Which of the following is not classified as an Investment Account -Investment in Subsidiary -Cash fund held for a long term purpose -Investment in Associates -Investment with a maturity period of 3 months and is also highly liquid
Which of the following is not classified as an Investment Account -Investment in Subsidiary -Cash fund held for a long term purpose -Investment in Associates -Investment with a maturity period of 3 months and is also highly liquid
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following is not classified as an Investment Account
-Investment in Subsidiary
-Cash fund held for a long term purpose
-Investment in Associates
-Investment with a maturity period of 3 months and is also highly liquid
2.
Financial Asset at Fair Value under OCI would have its gain or loss reported at what Financial Statement?
-Changes in Owners Equity
-Balance Sheet
-Income Statement
-Cash Flow
3.
Debt Instrument investment can be classified under the following, Except?
-Held to Maturity
-At Amortized Cost
-FAFVOCI
-FAFVPL
4.
When the Company Trades with an Investment in Associate, the Reported net income of the Parent Company should report the Intercompany transaction as?
(1 Point)
-As Inventory
-An eliminated Entry
-As Expense
-As income
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