Amacon Corporation Has the Following Investments at December 31,2016

question 80

Multiple Choice

Amacon Corporation has the following investments at December 31,2016:

If Amacon irrevocably elected to classify its investment in DEF at fair value through OCI,what amount will be reported in income for the three months ended December 31,2016 pertaining to this investment?

• A)$0
• B)$3,000 loss.
• C)$3,000 gain.
• D)$5,000 gain.

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Definitions:

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