How would Computer Parts Corporation account for its passive investment in a company that is not publicly
Question:
How would Computer Parts Corporation account for its passive investment in a company that is not publicly traded and whose fair value is not readily determinable?
a. It must use the fair value method.
b. It would record the investment at cost with no further adjustment.
c. It would record the investment at cost minus any impairment.
d. It would use the equity method.
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The correct answer is b It would record the investment at cost with no further adjustment The reason ...View the full answer
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Related Book For 
Fundamentals Of Financial Accounting
ISBN: 9781265440169
7th Edition
Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby
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