The provisions of IFRS require firms to classify marketable securities into which of the following categories except
a. held to maturity investments for which a firm has both the intent and the ability to hold to maturity—shown on the balance sheet at an amount based on acquisition cost, but subject to impairment.
b. debt and equity securities held as financial assets at fair value through profit or loss, shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income.
c. debt and equity securities held as available-for-sale financial assets, shown on the balance sheet at fair value, with unrealized changes in fair value of securities held at the end of the accounting period included in other comprehensive income, and realized changes in fair value included in net income when a firm sells the securities.
d. debt and equity securities held as available-for-sale financial assets, shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income.
e. choices a and b, only.
D
You might also like to view...
Consumers can purchase inkjet printers for as little as $30. However, the price of replacement ink cartridges can be as much or more than the purchase price of the printer. This is part of the ________ of an inkjet printer
A) disposal costs B) acquisition costs C) usage costs D) repair costs E) ownership costs
SSL/TLS cannot provide irrefutability.
Answer the following statement true (T) or false (F)
All of the following are characteristics of hourly wage plans except:
a. They provide no extra recognition for doing more than the minimum required. b. They are easy to apply. c. They establish a definite rate per hour for each employee. d. They encourage employees to sacrifice quality in order to maximize earnings.
Raptor Company is considering replacing equipment which originally cost $500,000 and which has $460,000 accumulated depreciation to date. A new machine will cost $790,000 and the old equipment can be sold for $8,000. What is the sunk cost in this situation?
A) $53,000 B) $40,000 C) $37,000 D) $290,000