In January 2011, Colt Co.had purchased an investment for $100,000.By December 31 2011 the market value of that investment had increased by $10,000.Assuming this gain was NOT included in the company's 2011 net income, which accounting model did Colt use to account for this investment?
A) The cost model
B) The fair value through net income model
C) The fair value through OCI model
D) None of these
Correct Answer:
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