Which of the Following Is/are True About Holding Gains on Assets

question 150

Multiple Choice

Which of the following is/are true about holding gains on assets?

• A)U.S.GAAP recognizes the holding gain on the assets for the increase in values.
• B)IFRS permits recognition of the holding gains under certain circumstances.
• C)IFRS precludes recognition of the holding gain on assets for the increase in values.
• D)Under U.S.GAAP, if in a given period, an asset increases in value, the firm does not record depreciation and amortization during that period.
• E)Under IFRS, if in a given period, an asset increases in value, the firm does not record depreciation and amortization during that period.