Business, 24.05.2021 15:50 AsianAtari9340

1. Level 1 of fair value hierarchy measures originally outlined in SFAS No. are based on:A. Historical cost of similar assetsB. Market prices for identical assetsC. Market prices for similar assetsD. Unobservable inputs2. Which of the following is the lowest level of the SFAS 157 (FASB ASC 820) fair value hierarchy?A. Unobservable inputs(that are corroborated by observable market data)B. Unobservable inputs (that are not corroborated by observable market data)C. Observable market-based inputs (or unobservable inputs share are corroborated by market data)D. Quoted market prices for identical assets of liabilities in active markets3. A basic objective of the statement of cash flows is toA. Supplant the income statement and balance sheetB. Disclose changes during the period in all asset and all liability accountsC. Disclose the change in working capital during the periodD. Provide essential information for financial statements users in making economic decisions

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