Question
For each financial asset/liability, identify and explain the appropriate level of information source from the fair value hierarchy scale that would be used to measure
For each financial asset/liability, identify and explain the appropriate level of information source from the fair value hierarchy scale that would be used to measure the fair value: Level 1, Level 2 or Level 3.
| Asset/Liability | Fair Value hierarchy level | |
| 1. | US Treasury notes | |
| 2. | Corporate debt securities | |
| 3. | Equity securities | |
| 4. | Residential mortgage-backed securities | |
| 5. | Money market mutual funds | |
| 6. | Foreign currency contract derivative liability | |
| 7. | Contingent Consideration obligation |
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Core Concepts Of Accounting
Authors: Robert N. Anthony, Leslie Pearlman Breitner
8th Edition
0130406716, 9780130406712
