1.) Which of the following would be an example of multiple performance obligations? a. Customer accepts delivery for a new outdoor spa tub.

b. Contractor fixes a sliding door and replaces several parts including springs and tracks.

c. Customer purchases a new gas range and two-year extended warranty.

d. Customer purchases a set of tickets to a football game that includes multiple tickets for the same game.

2.) Investments held for trading in equity instruments are reported on the balance sheet at

a. amortized cost.

b. cost.

c. fair value.

d. lower of cost and fair value.

3.) Vlad Corporation sells 100 common shares being held as a trading investment. The shares were acquired six months ago at a cost of $ 50 a share Vlad sold the shares for $ 40 a share. The entry to record the sale is

a. Debit cash for $4,000 ; Credit Investment income or loss for $1,000 and investments at FVTPL for $5,000.

b. Debit cash for $5,000 ; Credit Investment income or loss for $1,000 and investments at FVTPL for $5,000.

c. Debit cash for $4,000; Credit investments at FVTPL for $4,000.

d. Debit investments at FVTPL for $4,000 ;Credit investment income or loss for $800 and Cash for $4,800.