1. The degree of influence determines how a strategic investment is classified.

Select one: True False

2. On June 1, 2018, Mango Corp. purchased Papaya Corp. common shares for $12,100 as a trading investment. Three months later, Mango sold these shares for $13,000. The entry to record the sale would include a

Select one: A. credit to Held for Trading Investments of $13,000.

B. credit to Realized Gain on Held for Trading Investments of $900.

C. debit to Cash of $12,100.

D. credit to Interest Revenue of $900.

3. Non-strategic investments that are held for the purpose of earning capital gains are called Held for Trading Investments.

Select one: True False