The Market Value of the Lite Stock Investment at the End

question 94

Multiple Choice

The market value of the Lite stock investment at the end of 2015 was $210,000.Which of the following amounts are correct assuming that Como elected to use the fair value option to account for the Lite investment?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Expenses

Outflows or using up of assets as a part of operations of a business to generate revenue.

Equity

The ownership interest held by shareholders in a corporation, represented by the residual assets minus liabilities.

Liabilities

Financial obligations or debts owed by a company to outside individuals or entities.

Assets

Resources owned by a company or individual that have economic value and can provide future benefits.