What level are inputs for estimating fair values based on a firm's own assumptions about the fair value of an asset or a liability,such as using various data to estimate present values?
A) Level 1.
B) Level 2.
C) Level 3.
D) None of these.

Question

Quizplus · Accepted Answer

Level 3 inputs are unobservable inputs for the asset or liability, reflecting the entity's own assumptions about the assumptions market participants would use in pricing the asset or liability.

What Level Are Inputs for Estimating Fair Values Based on a Firm's