Which of the following is not a main objective of AASB 13/IFRS 13 Fair Value measurement?

Select one:

a. to define fair value

b. to require disclosures about fair value measurement

c. to establish a framework for measuring fair value

d. to define an arms length transaction

2.

Quoted prices for identical items in inactive markets are called:

Select one:

a. Level 1 inputs

b. Level 3 inputs

c. Level 2 inputs

d. Unobservable inputs