Which of the following is true of available-for-sale (AFS) debt investments? O They are reported as current assets on the balance sheet only if the business expects to sell them within the first two years O They are reported as long-term assets on the balance sheet only if they are planned to be held for longer than a year. They are always reported as current assets in the balance sheet. They are always reported as long-term assets in the balance sheet.
Which of the following is true of available-for-sale (AFS) debt investments? O They are reported as current assets on the balance sheet only if the business expects to sell them within the first two years O They are reported as long-term assets on the balance sheet only if they are planned to be held for longer than a year. They are always reported as current assets in the balance sheet. They are always reported as long-term assets in the balance sheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Which of the following is true of available-for-sale (AFS) debt investments?
They are reported as current assets on the balance sheet only if the business expects to sell them within the first two years.
They are reported as long-term assets on the balance sheet only if they are planned to be held for longer than a year.
They are always reported as current assets in the balance sheet.
They are always reported as long-term assets in the balance sheet.
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