Question
Question 9 (1 point) In January Y9, Sarnia Ltd. had purchased an investment for $150,000 . By December 31 , Y9, the fair market value
Question 9 (1 point)\ In January Y9, Sarnia Ltd. had purchased an investment for
$150,000. By December\ 31 , Y9, the fair market value of that investment had increased by
$20,000. Assuming\ this gain was included in the company's Y9 net income, which accounting method did\ Sarnia use to account for this investment?\ fair value through net income (FV-NI)\ equity\ fair value through other comprehensive income (FV-OCI)\ cost
Question 9 (1 point) Listen In January Y9, Sarnia Ltd. had purchased an investment for $ 150,000. By December 31, Y9, the fair market value of that investment had increased by $20,000. Assuming this gain was included in the company's Y9 net income, which accounting method did Sarnia use to account for this investment? fair value through net income (FV-NI) equity fair value through other comprehensive income (FV-OCI) cost
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
