1. The cost of Right shares is (a) added to the cost of investments. (b) subtracted from the cost of investments. (c) no treatment is required. (d) none of the above.

2. Long term investments are carried at (a) fair value. (b) cost price. (c) Cost or market value whichever is less. (d) market value.

3 Short term investments are carried at (a) fair value. (b) cost price. (c) Cost or market value whichever is less. (d) market value.