Which of the following statements regarding minority passive investments in equity securities is not correct for 2018 and thereafter?
A. Companies will book a cumulative adjustment at the beginning of the year of transition.
B. The key effect of this adjustment will be a reclassification between accumulated other comprehensive income and retained earnings.
C. In the balance sheet (or in the notes), financial assets will be broken out by measurement category (fair value vs. cost) and by form of asset (securities vs. loans and receivables).
D. Net income will be less volatile under the new methods.
Answer: D
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Fill in the blank(s) with the appropriate word(s).
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