If Ziggy Company Concluded That an Investment Originally Classified as Held

question 84

Multiple Choice

If Ziggy Company concluded that an investment originally classified as held to maturity would now more appropriately be classified as available for sale,Ziggy would:

• A)Not reclassify the investment,as original classifications are irrevocable.
• B)rReclassify the investment as available for sale and immediately recognize in net income any unrealized gain or loss on the reclassification date.
• C)Reclassify the investment as available for sale and immediately recognize in accumulated other comprehensive income any unrealized gain or loss on the reclassification date.
• D)Need to restate earnings,as the original classification was in error.

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Definitions:

Humanistic Psychologists

Psychologists who focus on an individual's free will, personal growth, and the concept of self-actualization.

Psychiatrists

Medical doctors who specialize in diagnosing, treating, and preventing mental health disorders, often using both medication and therapy.

Clinical Psychologists

Professionals specialized in diagnosing and treating mental health disorders, emotional disturbances, and dysfunctional behavior through various therapies.

Psychodynamic Perspective

An approach in psychology that emphasizes systematic study of the psychological forces underlying human behavior, feelings, and emotions and how they might relate to early experience.