This preview shows page 1. Sign up to view the full content.
Unformatted text preview: liability. (2) What is the difference in Unappropriated Retained Earnings and Restricted Retained Earnings ? (3) Describe the 3 levels of the fair value hierarchy used for valuing financial instruments (p. 193). Level 1: Measures (the most reliable) are based on observable inputs, such as market prices for identical assets or liabilities. Level 2: measures (less reliable) are based on market-based inputs other than those included in Level 1, such as those based on market prices for similar assets or liabilities. Level 3: measures (least reliable) are based on unobservable inputs; such as a company’s own data or assumptions....
View Full Document
This note was uploaded on 09/02/2011 for the course MGT 3305 taught by Professor Reed during the Spring '08 term at Baylor.
- Spring '08