Which of the Following Statements Is INCORRECT Regarding Fair Value

question 34

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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Definitions:

Canadian Coastal Trade

The transport of goods or passengers between two points within Canada by sea, subject to specific regulations and protections.

Shipworkers' Trade Union

An organization that represents the interests and rights of workers in the shipping or maritime industry.

Labour Relations Board

A regulatory body that oversees and enforces labor laws related to the rights of employers and employees, including union activities and collective bargaining.

Union Representation

The act of labor unions representing the interests of their members in negotiations with employers.