George Inc $\mathrm { F } \boldsymbol { V }$ -NI Invertments

question 90

Short Answer

George Inc. owns bonds that are accounted for under the fair value through net income model. On December 31, 2020, the bonds have a carrying value of $ 124,365. The fair value at that date is $ 123,000. The entry to record the year-end adjustment is a) Invertment Income or Loss............................1,365
$\mathrm { F } \boldsymbol { V }$ -NI Invertments......................................................1,365
b) Unrealized Gain or Loss OCI..........................1,356
F $\boldsymbol { V }$ -Nl Invertments.......................................1,356
c) FV-NI Inve-tments..................................................1,365
Invetment Income or Loss.................................................1,365
D) No adjustment is required.

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Definitions:

Immune System

The body's defense system composed of organs, tissues, cells, and proteins that fights off pathogens and disease.

Immune Activity

The actions and responses of the immune system in identifying, attacking, and eliminating pathogens or foreign substances in the body.

General Adaptation Syndrome

A three-phase response pattern to stress defined by Hans Selye, consisting of alarm, resistance, and exhaustion stages.

Exhaustion

A state of extreme physical or mental fatigue, often resulting from prolonged stress or overwork.