For fi nancial assets classifi ed as available for sale, how are unrealized gains and losses refl ected in shareholders’ equity? C . Th ey are a component of accumulated other comprehensive income.
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For fi nancial assets classifi ed as available for sale, how are unrealized gains and losses refl ected in shareholders’ equity? C . Th ey are a component of accumulated other comprehensive income.
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- For fi nancial assets classifi ed as held to maturity, how are unrealized gains and losses refl ected in shareholders’ equity?C . Th ey are a component of accumulated other comprehensive income.Financial Asset at Fair Value under OCI would have its gain or loss reported at what Financial Statement? Income Statement Cash Flow Changes in Owners Equity Balance SheetRevenues, gains, and investments by owners are allincreases in net assets. What are the distinctions amongthem?
- For fi nancial assets classifi ed as available for sale, how are unrealized gains and losses refl ected in shareholders’ equity?A . Th ey are not recognizedWhat types of assets produce capital gains income when sold for a profit? A) Inventory B) Realized inventory C) Noninventory D) Noninventory and inventory9. Write-downs of inventories to their net realizable value are recognized a. in profit or loss b. in other comprehensive income c. directly in equity d. any of these
- What is “comprehensive income”? Its composition varies from company to company but may include which items related to available-for-sale investments that are not included in net income?Any gain or loss on the restatement of non-monetary items is included: In the profit or loss, without separate disclosure. O In the profit or loss, with separate disclosure. In the other comprehensive income. As part of the equity section in the balance sheet.8. Realized gains and losses on investments available for sale are reported a. as a current assetb. on the income statementc. on the balance sheet as part of stockholders' equityd. as a contra asset
- Which of the following is included in computing the total gross income? Incidental revenue Net Ordinary income from non-operating activities Net capital gain All of the aboveWhich of the following equations is correct? Multiple Choice Asset Liabilities-Shareholders' Equity Assets + Liabilities Shareholders' Equity Ending Retained Earnings Beginning Retained Earnings-Net Income Dividends Net Income Expenses-RevenuesIn accordance with PAS 1, the profit or loss section or the statement of profit or loss shall include line item for gains and losses from derecognition of Group of answer choices Financial assets measured at fair value through profit or loss. Financial assets measured at amortized cost. All of these. Financial assets measured at fair value through other comprehensive income.