Under IFRS, the unrealized loss on investments trading reported: should be a. as part of other comprehensive loss, reducing net income. b. on the income statement, reducing net income. c. as part of other comprehensive loss, not affecting net income. d. directly to stockholders' equity, bypassing the income statement.
Under IFRS, the unrealized loss on investments trading reported: should be a. as part of other comprehensive loss, reducing net income. b. on the income statement, reducing net income. c. as part of other comprehensive loss, not affecting net income. d. directly to stockholders' equity, bypassing the income statement.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter2: The Basics Of Record Keeping And Financial Statement Preparation: Balance Sheet
Section: Chapter Questions
Problem 8E
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Transcribed Image Text:Under IFRS, the unrealized loss on
investments
trading
reported:
should
be
a. as part of other comprehensive
loss, reducing net income.
b. on the income statement,
reducing net income.
c. as part of other comprehensive
loss, not affecting net income.
d. directly to stockholders' equity,
bypassing the income statement.
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