Which of the following generally does not require a fair value adjustment at reporting date? a. Debt securities accounted for as Held to Maturity b. Equity securities accounted for as Trading Securities. c. Debit securities accounted for under the Available for Sale Method d. Equity securities accounted for under the Available for Sale Method 2.5 points QUESTION 21 When deciding on the appropriate method of accounting that should be used to account for equity securities the main determining factor is? a. The percentage of ownership c b. Management intent c. The method that yields the most favorable result. d. None of the above 2.5 points QUESTION 22 XYZ Company has a 51% ownership in Champs Inc. through common stock acquisition. What is the appropriate accounting treatment XYZ should use to account for its investment in Champs Inc. at reporting date? a. Consolidation Accounting b. Equity Accounting c. Fair Value Accounting d. None of the above choices 2.5 points QUESTION 23 Which of the following methods would not require the recognition of income when a cash dividend is paid? a. Fair Value Accounting - Available for Sale b. Held to Maturity c. Equity Method d. Fair Value Accounting - Trading