52 Gains or losses on changes in fair value of debt investment classified as amortized cost: Group of answer choices reported directly in retained earnings. recorded in equity, as part of other comprehensive income. reported directly in net income. ignored completely.

52 Gains or losses on changes in fair value of debt investment classified as amortized cost: Group of answer choices reported directly in retained earnings. recorded in equity, as part of other comprehensive income. reported directly in net income. ignored completely.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Gains or losses on changes in fair value of debt investment classified as amortized cost:

Group of answer choices

reported directly in retained earnings.

recorded in equity, as part of other comprehensive income.

reported directly in net income.

ignored completely.

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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