When an Impairment of an Investment That Is Classified as Available

question 51

Multiple Choice

When an impairment of an investment that is classified as available for sale occurs for a reason that is judged to be "other than temporary," the investment is written down to its fair value and the amount of the write-down is:

• A) Recorded as a deferred credit.
• B) Included in net income.
• C) Recorded as deferred asset.
• D) Treated as unrealized.

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Definitions:

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