In the Accompanying Figure, the Expression =Sum([Revenue]) Is Contained in a Text

question 15

Essay

In the accompanying figure, the expression =Sum([Revenue]) is contained in a text box in both the Category Footer as well as Report Footer sections.  Explain the difference between these two controls.

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Definitions:

FVTPL

The acronym stands for Fair Value Through Profit or Loss; this designation refers to financial assets or liabilities that are recorded at fair value, with any changes directly affecting profit or loss.

Fair Value

An estimate of the price at which an asset or liability could be traded in a fair transaction between willing parties, other than in a forced or liquidation sale.

Unrealized Gain

A profit that exists on paper resulting from an investment that has not yet been sold for cash, indicating an increase in value of the asset.

Equity Method

An accounting technique used to record an investor's proportional share of the associate company's earnings and losses.