The advantage of using fair value for investments held for trading is that it allows users to better predict future cash flows.

Select one:

True

False

Short-term debt investments are most likely listed on the balance sheet immediately below

Select one:

A.prepaid expenses.

B.cash.

C.accounts receivable.

D.inventory.

Which of the following would NOT be reported under "Other Revenues" on the income statement?

Select one:

A.dividend revenue

B.investment income or loss

C.interest revenue

D.loss on the sale of strategic investment

On January 1, 2021, Goyeche Corporation purchased 30% of the common shares of Grafenburg Limited for $400,000. During 2021, Grafenburg Limited paid cash dividends of $60,000 and had profit of $300,000. During the same period, Goyeche earned $500,000 and paid dividends of $125,000. Both corporations have a December 31 year end. Assuming Grafenburg is Goyeche's only equity investment, on its December 31, 2021 income statement, Goyeche would report which of the following?

Select one:

A.income from investment in Grafenburg, $300,000

B.dividend revenue, $60,000

C.dividend revenue, $18,000

D.income from investment in Grafenburg, $90,000

One of the differences between IFRS and ASPE is that under ASPE there is no other comprehensive income.

Select one:

True

False