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Note 7 - Fair Value Accounting
6 Months Ended
May 31, 2018
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
NOTE
7
– FAIR VALUE ACCOUNTING
 
Financial instruments measured at fair value are classified into
one
of
three
levels in the fair value hierarchy according to the significance of the inputs used in making the measurement. The
three
levels of the fair value hierarchy are as follows:
 
Level
1
— Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level
2
— Quoted prices in markets that are
not
active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
Level
3
— Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or
no
market activity).
 
The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level
1
of the fair value hierarchy. The fair value of the marketable equity securities was
$1,152
at
May 31, 2018 (
$1,448
at
November 30, 2017),
calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.