Question 18 At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is Group of answer choices Acquired principally for the purpose of selling it in the near term. A derivative. None of these. On initial recognition is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Question 18

At initial recognition, an entity may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument that is

Group of answer choices
Acquired principally for the purpose of selling it in the near term.
A derivative.
None of these.
On initial recognition is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking.
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