Question

Level ______ estimates use observable inputs other than quoted prices

Answer 1

Level 3 estimates use observable inputs other than quoted prices.

Step-by-step explanation:

Level 3 estimates use observable inputs other than quoted prices. These estimates are often used in financial reporting to value assets or liabilities when there are no directly observable market prices available. Instead, they rely on inputs such as comparable market transactions, discounted cash flow analysis, or other valuation techniques.