Which of the Following Statements Is Not True

question 27

Multiple Choice

Which of the following statements is not true?

• A)Trading investments can be classified as either current or non-current assets on the statement of financial position.
• B)Under the fair value model, both realized and unrealized gains and losses are reported in the income statement.
• C)Under the amortized cost method, no unrealized gains or losses are reported.
• D)Non-strategic investments are purchased to generate investment income.

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Definitions:

Elected Official

An individual who has been chosen through a democratic process to hold a public office.

Constituents

The people represented by elected officials in a particular electoral district or area.

Politically

Pertaining to politics, which is the set of activities associated with the governance of a country or area, especially the debate between parties having power.

Heads Of Government

The highest-ranking official in the executive branch of government, often responsible for forming government policy and administration.