Multiple Choice
GASB 31 "Accounting for Financial Reporting for Certain Investments and for External Reporting Investment Pools," establishes a general rule that government entities value investments in option contracts,open-ended mutual funds,and debt securities for balance sheet presentation at:
A) lower of cost or market.
B) fair value.
C) cost.
D) amortized cost.
Correct Answer:
Verified
Correct Answer:
Verified
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