Identify the level of the literature hierarchy for U. S. GAAP to which each item belongs.
Authoritative Literature Level 1, 2, or 3?
a. Industry practice ___________________________
b. FASB Concepts Statements ___________________________
c. Codification ___________________________
d. Textbooks ___________________________
e. Authoritative rules and principles from U. S. GAAP for similar transactions
f. International Financial Reporting Standards (IFRS) ___________________________
g. SEC rules and interpretive releases ___________________________
This question was answered on: Jul 11, 2017
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