Question
Which of the following statement regarding Fair Value Other Comprehensive Income (FV-OCI) model is incorrect? A. The transaction cost at acquisition is added to the
Which of the following statement regarding Fair Value Other Comprehensive Income (FV-OCI) model is incorrect?
A. | The transaction cost at acquisition is added to the investment cost | |
B. | At disposal, OCI is transferred into retained earnings | |
C. | It is required by IFRS, but permitted by ASPE | |
D. | It is usually used to recognize unrealized holding gains of equity investments
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Which of the following is true about assets:
A. | All of the other alternatives are true about assets | |
B. | An asset must always provide some kind of future benefit to the entity | |
C. | There can be assets held by a company which are not on the balance sheet such as the value of customer loyalty | |
D. | An asset must always be the result of a past transaction or event |
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