Multiple Choice
On January 1,2014,Jude Corporation purchases stock in Gelco Company.Jude Corporation owns 1% of the outstanding stock of Gelco Company.Jude Corporation intends to hold the stock for longer than one year.How should Jude Corporation classify this stock?
A) trading security
B) held-to-maturity investment in bonds
C) equity-method investment
D) investment in available-for-sale securities
Correct Answer:
Verified
Correct Answer:
Verified
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