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( 3 1 ) TRUE Or FALSE - GAAP prescribes a fair value hierarchy for reporting most assets at fair value as follows: level 1

(31) TRUE Or FALSE - GAAP prescribes a fair
value hierarchy for reporting most assets at
fair value as follows: level 1-estimated future
cash flows for impaired assets; level 2-similar
items in an inactive markit; level 3-
dentical items in an active market such as
shares of stocks on bonds
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