Under IFRS 13 Fair Value Measurement, the fair value hierarchy prioritizes inputs. Which level gives the highest priority?

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ALevel 2 – Observable inputs other than quoted prices
BLevel 1 – Quoted prices in active markets for identical assets or liabilities
CLevel 3 – Unobservable inputs
DLevel 0 – Management estimates

✓ Correct answer: B. Level 1 – Quoted prices in active markets for identical assets or liabilities IFRS 13 establishes a three-level fair value hierarchy. Level 1 inputs (quoted prices in active markets for identical assets or liabilities) receive the highest priority. Level 3 (unobservable inputs) receives the lowest priority. There is no Level 0.

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Under IFRS 13 Fair Value Measurement, the fair value hierarchy prioritizes inputs. Which level gives the highest priority?

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