In Accounting for Non-Influential Securities

Multiple Choice

In accounting for non-influential securities:

A) The GAAP concept of "trading securities" is commonly referred to as "financial
Assets at fair value through profit and loss" under IFRS
B) The IFRS concept of "trading securities" is commonly referred to as "financial
Assets at fair value through profit and loss" under GAAP
C) The GAAP concept of "available-for-sale securities" is commonly referred to as "available-for-sale financial assets" under IFRS
D) The IRFS concept of "available-for-sale securities" are commonly referred to as "available-for-sale financial assets" under GAAP
E) Both A and C above are true statements