When a debt investment at amortized cost is reclassified to FVPL, the difference between the previous carrying amount and fair value at reclassification date is   a. Recognized in profit or loss b. Recognized in other comprehensive income c. Not recognized d. Included in retained earnings

choose from the following accounts: Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Commission Expense Dividends Receivable Dividend Revenue FV-NI Investments FV-OC|Investments Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments FV-NI Loss on Disposal of Investments FV-OCI Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss - OCI

Examples of items that are adjusted directly against equit rather than being included as part opf profit or loss.

A statement of affairs measures a deficiency – traceable to unsecured creditors without priority – as the difference between the estimated net realizable value of the assets and the amount due those creditors True or False

Mm.2.

The current portion of long-term debt should a.be reclassified as a current liability b.be paid immediately c.not be separated from the long-term portion of debt d.be classified as a long-term liability

when preparing the consolidated financial statements, which of the following should be deducted from the group reserves? a. share in associate profit b. value of the loan from subsidary to associate c. group's share of sub-subsidary profit d. value of goodwill impairment expense

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.

In investment in debt securities accounted for at fair value through other comprehensive income, the difference between the fair value and the accumulated unrealized gain or loss - OCI presented in the statement of financial position would normally equal to: *   A. The unrealized gain or loss - OCI presented as part of other comprehensive income     B. The amortized cost of the debt securities     C. The interest income for the period     D. The fair value of the debt securities in the previous period

If a company has elected the fair value option, where are gains and losses resulting from adjusting these accounts to fair value reported? Group of answer choices Unrealized Gains are reported as part of Other Comprehensive Income while Unrealized losses are reported as part of Net Income. Unrealized Gains and Losses are both reported as part of Net Income. Unrealized Gains are reported as part of Net Income, while Unrealized Losses are reported as part of Other Comprehensive Income. Unrealized Gains and Losses are both reported as part of Other Comprehensive Income.