NBAA CPA Final Practice Questions - NBAA Certified Public Accountant (CPA) Final Level Exam

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Under IFRS 13 (Fair Value Measurement), which of the following is classified as a Level 3 input in the fair value hierarchy?

Quoted prices in active markets for identical assets that the entity can access at the measurement date. Inputs other than quoted prices that are observable for the asset, such as interest rates and yield curves. Unobservable inputs for the asset, developed using the best information available, including the entity's own data. Quoted prices for similar assets in active markets.

Correct Answer:

Unobservable inputs for the asset, developed using the best information available, including the entity's own data.

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