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All of the following statements regarding equity securities are true except : Equity securities should be recorded at cost when acquired. Equity securities classified as

All of the following statements regarding equity securities are true except:

Equity securities should be recorded at cost when acquired.

Equity securities classified as available-for-sale record the dividend revenue when received.

Equity securities are valued at fair value if classified as available-for-sale securities.

Equity securities are valued at fair value if classified as trading securities.

Equity securities are valued at fair value if classified as significant influence securities.

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