Which statement is correct about non-strategic investments?
A)IFRS carries FVOCI investments at fair value with only unrealized gains going to OCI.
B)ASPE carries FVOCI investments at fair value with only unrealized gains going to OCI.
C)ASPE carries FVOCI investments at fair value with unrealized gains and losses going to OCI.
D)IFRS carries FVOCI investments at fair value with unrealized gains and losses going to OCI.

Question

Quizplus · Accepted Answer

According to IFRS, non-strategic investments are carried at fair value through other comprehensive income (FVOCI) and any unrealized gains and losses are recorded in OCI. Therefore, statement D is correct. ASPE also carries non-strategic investments at FVOCI, but unrealized gains and losses are recorded in OCI, making statement C incorrect.

Which Statement Is Correct About Non-Strategic Investments