Which statement is true concerning impairment testing of investments in debt and equity securities?
A) Impairment losses are reported in income for credit losses related to investments in debt and equity securities.
B) Impairment losses are reported in income for other than temporary declines in the value of equity securities with no significant influence and those with significant influence.
C) Impairment testing is required for investments in equity securities with no significant influence and those with significant influence.
D) Impairment testing is required for debt securities classified as AFS or HTM, but not for debt securities classified as trading.
Correct Answer:
Verified
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