Under ASC 820, fair value hierarchy levels are based on

Under ASC 820, fair value hierarchy levels are based on

Under ASC 820, fair value hierarchy levels are based on:

A. The type of asset

B. The level of observable inputs

C. The company's accounting policy

D. The market volatility

Answer: B

Explanation: ASC 820-10-35-1: Level 1 = quoted prices (observable), Level 2 = inputs other than quoted prices, Level 3 = unobservable inputs.