Determining the fair value of a building by using value per square foot of similar buildings is an example of what level in the fair value hierarchy?
A) Level 1
B) Level 2
C) Level 3

Question

Quizplus · Accepted Answer

Level 2 fair value measurements use inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly.

Determining the Fair Value of a Building by Using Value