Which of the following statements regarding non-strategic investments in equity is FALSE?
A) There are possible exceptions to FVTPL.
B) At the day of acquisition when the investment in shares is originally recorded, the company has the option of making an "irrevocable election" where it decides that subsequent changes to fair value will be put in other comprehensive income rather than through income.
C) The "irrevocable election" can be made for investments that are held for trading.
D) Items that are originally placed in Other Comprehensive Income cannot be recycled through profit and loss.
Correct Answer:
Verified
Q46: Outline and describe the basics of the
Q47: What are the steps to follow to
Q48: Which of the following factors does NOT
Q49: On January 1, 2013, Tonya Ltd.
Q50: A subsidiary is defined as an entity
Q51: Sibery Inc. uses the equity method
Q52: _ has sometimes been described as 'one-line
Q53: Which of the following is the first
Q54: The equity method is applied:
A)when one of
Q55: Regarding significant influence with respect to an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents