Under the Fair Value Through Other Comprehensive Income Method, Investments

question 14

Multiple Choice

Under the fair value through other comprehensive income method, investments are can be reported as long term assets:

• A)depending on marketability and management intent.
• B)depending on the value and risk of the investment.
• C)depending on the balance in the accumulated comprehensive income account.
• D)depending on whether they are to be held for more than three years.

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Definitions:

Confederacy

A confederation of secessionist American states existing from 1861 to 1865, formed by states in the Southern United States that supported slavery and opposed the policies of the northern states.

Ordinance of Secession

Historical documents drafted and adopted by several U.S. states declaring their secession from the Union, leading to the American Civil War.

South Carolina

A U.S. state in the southeastern region, known for its role in American history, including the Civil War's start at Fort Sumter.

Federal Government's Refusal

A situation where the national government decides not to approve or accept a specific action, legislation, or proposal.