Jackson & Sons purchased a debt investment that meets the characteristics of a simple debt instrument. Jackson is holding the debt for resale in the near future. How should Jackson account for the investment?
A) Amortized cost.
B) FV-NI.
C) FV-OCI.
D) Cost methoD.A simple debt instrument that is held for resale should be accounted for as FV-NI.
Correct Answer:
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