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Question 30 2 pts Which of the following measures of income reported by a US rm will be equal in amount for every period, regardless of whether an equity investment is classied as trading or available for sale? 0 Net income 0 Other comprehensive income 0 Comprehensive income 0 All of the above ' Question 29 2 pts Unrealized gains and losses are not recognized for debt security investments held by a US rm that are accounted for as 0 Trading securities 0 Held-to-maturity securities 0 Available-for-sale securities 0 All of the above ' Question 28 2 pts What balance sheet classication would be used for a debt security that a company has both the positive intent and ability to hold until all principal and interest is fully paid? 0 Trading security 0 Held-to-maturity security 0 Available-for-sale security 0 Equity investment Question 27 2 pts The portfolio of investments in debt securities accounted for as \"available for sale\" is "marked to market" and reported on the balance sheet at: 0 Cost based carrying value. 0 Lower of cost or market. 0 Historical cost. 0 Fair value at the balance sheet date. Question 26 2 pts Which of the following is true regarding investments in available-for-sale debt securities? 0 Fair value adjustments are treated as adjustments to net income 0 They are valued on the balance sheet at historical cost 0 Fair value adjustments are treated as adjustments to other comprehensive income. 0 Interest revenue and fair value adjustments are netted used to adjust net income Question 25 2 pts Alley, Inc. owns 99% of the voting shares of Babba. Babba is not a variable interest entity and Alley controls Babba. At year end, the fair value of the Babba shares is readily determinable. Alley will report its investment in Babba: 0 Under the equity method. 0 As a Trading security 0 As a consolidation. 0 Any of the above are permitted at the discretion of management. Question 24 2 pts The equity method is used when an investor can't control but can exercise significant influence over the operating and financial policies of the investee. GAAP presumes, in the absence of evidence to the contrary, that this is so if: O The investor owns between 20% and 50% of the investee's voting shares. O The investor owns 51% or more of the investee's voting. O The investor classifies the investment as held-to-maturity. O The investor classifies the investment as available-for-sale.Question 23 2 pts Which of the following is not a question that must be addressed when accounting for investments in debt and equity securities? 0 The length of time that management intends to hold the investment 0 The degree of control that the investor has over the investee company 0 Whether the fair value of the equity investment is readily determinable O The impact of the investment on the investor's return on equity. Question 22 2 pts Under the equity method of accounting for investments in equity securities, how is the receipt of cash from dividends accounted for? Q) A decrease in the investment accountRevenue in the income statementRevenue in the income statement 0 An increase in the investment account 0 A decrease in the investment account 0 An increase in "other comprehensive income" Question 19 2 pts When the ifconverted assumption for potentially diluted securities is considered in the calculation of diluted earnings per share, conversions are assumed to occur at what time? 0 End of the prior year for hypothetical conversions Beginning of the year for hypothetical conversions 0 Middle of the current year for actual conversions 0 Beginning of the current year or on the issue date of the dilutive security if issued during the year Question 18 2 pts When several types of potentially dilutive securities exist, the one that enters the computation of diluted EPS first is the one with the: O Incremental effect that is most dilutive. O Highest numerator increase effect. Highest denominator increase effect. O Incremental effect that is least dilutive