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1. Topic: Equity method investments Impairment losses on equity method investments are: a. not reported. b. reported in other comprehensive income. c. reported as a

1. Topic: Equity method investments Impairment losses on equity method investments are:

a. not reported. b. reported in other comprehensive income. c. reported as a direct adjustment to beginning retained earnings. d. reported on the income statement.

2. Topic: Joint ventures U.S. GAAP general requires joint ventures to be reported as: a. equity method investments. b. trading securities. c. consolidated controlled investments. d. available-for-sale securities.

**Please provide explanation and any calculations. Thank you!

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