Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement Fair Value Measurement (Notes)

v2.4.0.8
Fair Value Measurement Fair Value Measurement (Notes)
 6 Months Ended
May 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
The Company adopted ASC Topic 820, “Fair Value Measurements and Disclosures” as of December 1, 2007, which expands disclosures about investments that are measured and reported at fair market value. ASC Topic 820 established a fair value hierarchy that prioritizes the inputs to valuation techniques utilized to measure fair value into three broad levels as follows:
Level 1 – Quoted market prices in active markets for the identical asset or liability that the reporting entity has ability to access at measurement date.
Level 2 – Quoted market prices for identical or similar assets or liabilities in markets that are not active, and where fair value is determined through the use of models or other valuation methodologies.
Level 3 – Unobserved inputs for the asset or liability. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available, and includes situations where there is little market activity for the investment.
 
 
May 31,
 
Quoted Market
Price in
Active Markets
 
Significant
Other
Observable
Inputs
Description
 
2013
 
(Level 1)
 
(Level 2)
Corporate obligations
 
$
749,880

 
$
—

 
$
749,880

Limited partnership
 
336,345

 
336,345

 
—

Common stock
 
684,835

 
684,835

 
—

Fixed income
 
402,965

 
402,965

 
—

Total
 
$
2,174,025

 
$
1,424,145

 
$
749,880



 
 
November 30,
 
Quoted Market
Price in
Active Markets
 
Significant
Other
Observable
Inputs
Description
 
2012
 
(Level 1)
 
(Level 2)
Corporate obligations
 
$
995,827

 
$
—

 
$
995,827

Limited partnership
 
292,680

 
292,680

 
—

Common stock
 
595,626

 
595,626

 
—

Fixed income
 
399,639

 
399,639

 
—

Total
 
$
2,283,772

 
$
1,287,945

 
$
995,827