(a). When should a long-term investment in common stock be accounted for by the equity method? (b)....

Question:

(a). When should a long-term investment in common stock be accounted for by the equity method?

(b). When is revenue recognized under this method?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...