GASB Statement No

question 2

Multiple Choice

GASB Statement No.31 requires the following investments to be recorded at fair value except

• A) Participating interest-earning investment contracts.
• B) Equity securities with readily determinable fair values.
• C) Debt securities.
• D) Nonparticipating interest-earning investment contracts.

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Definitions:

Molarity

A concentration measurement defined as the moles of a solute per liter of solution.

KBr

Potassium bromide, a chemical compound used in photography, as a sedative in veterinary medicine, and in analytical chemistry.

Molarity

A concentration unit used to describe the amount of solute in moles divided by the volume of the solution in liters.

NaBr

Sodium Bromide, a chemical compound with the formula NaBr, used in medicine, as a sedative or anticonvulsant, and in photographic processing.