Multiple Choice
If an available-for-sale investment is sold for which there are unrealized holding gains in accumulated other comprehensive income (AOCI) , a reclassification adjustment affects other comprehensive income (OCI) in the period of sale by:
A) Reducing OCI for the amount of unrealized holding gains in AOCI.
B) Increasing OCI for the amount of unrealized holding gains in AOCI.
C) No effect on OCI, as OCI only includes the effects of unrealized holding gains and losses.
D) No effect on OCI, as the realized gain is included in AOCI.
Correct Answer:
Verified
Correct Answer:
Verified
Q99: Espana Corporation purchased $100,000 of Hales Inc.
Q100: On January 1, 2018, American Corporation purchased
Q101: Under IFRS No. 9, equity investments are
Q102: In early December of 2018, Blue Corp.
Q103: Bonds that are purchased with the intent
Q105: Which of the following is not true
Q106: Dim Corporation purchased 1,000 bonds of Witt
Q107: Selecting the fair value option for an
Q108: Jackson Company engaged in the following investment
Q109: Boulter, Inc. began business on January 1,