Which of the Following Statements Is INCORRECT Regarding Fair Value

question 334

Multiple Choice

Which of the following statements is INCORRECT regarding fair value adjustments for investments?

• A)Both FV-NI investments and FV-OCI investments could include equity investments or
• Investments in debt securities.
• B)FV-OCI investments exclude debt securities.
• C)At each period end, an estimate is made of the fair value of both FV-NI and FV-OCI
• Investments.
• D)An adjusting entry is required to record a holding gain or loss on FV-NI investments.

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