Liquidity Investing Company owns 500 shares of High Flier Stock, and in accordance with US GAAP, is required to report the investment at "Fair Value". In accordance with the Fair Value Hierarchy, what attributes must be present in order for Liquidity Investing to classify the investment as "Level 1" under the Fair Value Hierarchy?

• Shares of High Flier Stock identical to those owned by Liquidity Investment must sell in the market place.

• There must be an "active" market for High Flier Stock.

• Liquidity Investing must have access to the market for High Flier Stock.

• All of the above attributes must be present.