Is it possible to reclassify an investment from one class to another? What would be the impact
Question:
Is it possible to reclassify an investment from one class to another? What would be the impact of such reclassification on carrying amount and profit or loss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (2 reviews)
Yes it is possible to reclassify an investment from one class to another under certain circumstances ...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Finvest Limited investments in corporate bonds amounting to 12 million. These investments were classified as FVTOCI in line with the business model of the company. With the change in the business...
-
XXX Investment Limited invested 10 million in corporate bonds. These investments were classified as FVTPL in line with the business model of the company. With the change in the business model, the...
-
YYY Investment Limited invested 6 million in corporate bonds. These investments were initially classified as measured at the amortized cost in line with the business model of the company. With the...
-
Why are variances usually written off to cost of goods sold?
-
The Kelly and Kelly Wrecking Company, a partnership, operates a general demolition business. Ownership of the company is divided among the partners, Mike Kelly, Kim Kelly, Larry Dennis, and Jim...
-
Pension accounting has become more closely associated with the method of deter-mining pension benefits. Required: a. Discuss the following methods of determining pension benefits: i. Defined...
-
Patty Hayes owned four Personal Seat Licenses (PSLs) at the Cleveland Browns Stadium. Hayess PSLs reserved four seats on the 50-yard line, at the railing, on the north side of the stadium. As the...
-
You are provided with the following information for Lahti Inc. for the month ended June 30, 2014. Lahti uses the periodic method for inventory. Instructions (a) Calculate (i) ending inventory , (ii)...
-
2. 16 points] Now consider a different system, +10x=u, where u is a "control input" that we can choose to make a behave the way we want. (a) What u would you choose so that r eventually ends up at...
-
On the basis of the following information, prepare the cash flow statement for Seven Wonders Limited for the year 201617. Additional Information: 1. Shortterm investments represent investment of...
-
On the basis of information given fill the missing entries: Comment upon the cash flows of the respective companies. Particulars Increase or decrease in cash Cash & cash equivalent At the end of the...
-
The money and commodity markets are as described in problems 1 and 2 and the real money supply equals $2,750, so that the economys equilibrium is initially the same as in part d of problem 2. (a)...
-
How is AI - artificial intelligence used in goals of strategic management? Explain with example
-
The following table consists of training data from product sales. For a given row entry, count represents the number of data tuples having the values for attributes given in that row. Profession...
-
3. Work out the number of elementary operations in the worst, best and average cases for the following algorithm (justify your answer): 0: function Nonsense (string s = s[1..n] of length n) 1: If n <...
-
To model a maze as a graph, you can create vertices representing the starting point, finishing point, dead ends, and intersections where multiple paths are available. These vertices can then be...
-
How does the story of innovation in cardiac care rely on certain conditions for innovation? How might educators explore ideas from other domains, and utilise analogical thinking? Which domains or...
-
Suppose an ANOVA has been performed on a completely randomized design containing six treatment levels. The mean for group 3 is 15.85, and the sample size for group 3 is eight. The mean for group 6 is...
-
$10,000 was borrowed at 3.5% on July 17. The borrower repaid $5000 on August 12, and $2000 on September 18. What final payment is required on November 12 to fully repay the loan?
-
How is the situation analysis different from the data collection step? Can both these steps be done at the same time to obtain answers sooner? Is this wise?
-
Distinguish between primary data and secondary data and illustrate your answer.
-
With so much secondary information now available free or at low cost over the Internet, why would a firm ever want to spend the money to do primary research?
-
2. 2. A 20 kg child climbs to the top of a slide that is 3 m above the ground level. She starts from rest and slides down the incline. a. Define and model the energy of the system with Energy Bar...
-
3. A 200 kg roller coaster starts from rest at the top of the first hill at a height of 20 m above the ground. The second hill is 15 m above the ground. a. A physics student in line for the ride...
-
A car traveling 87.0 km/h is 1500 m behind a truck traveling at 74.0 km/h. How far from its initial position does the car have to travel to catch up to the truck.
Study smarter with the SolutionInn App