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arket accounting (MTM) requires certain assets to be listed on the balance sheet at ark to arvalues and not book values. Explain the following. (10

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arket accounting (MTM) requires certain assets to be listed on the balance sheet at ark to ar"values and not book values. Explain the following. (10 points) Explain the economic reasoning for requiring firms to MTM assets on their balance sheet. a. b. Explain what the differences are between Level 1, 2 and 3 pricing sources. Explain what the potential downsides are for firms using MTM. c

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