Level 1 assets are in one of the hierarchy of level1,2,3.Level 1 assets identifies assets and liabilities possessing the most transperant and tangible values.Companies are required to value certain assets and liabilities at their current value,not historical cost.The hierarchy framework used to value these assets includes three levels with Level 1 being the easiest to verify.
Examples.
Listed Stocks
Funds
Any assets having mark to market
Publicly traded bonds
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