Question: Chapter 12 - Intermediate Accounting, Spiceland Indicate whether the following is TRUE or FALSE. If answer is false, explain why. 1. Purchases and sales of

Chapter 12 - Intermediate Accounting, Spiceland

Indicate whether the following is TRUE or FALSE. If answer is false, explain why.

1. Purchases and sales of securities are always reported as financing activities in a statement of cash flows. TRUE or FALSE?

2. Unrealized gains and losses are never included in other comprehensive income for securities that are classified as available for sale. TRUE or FALSE?

3. If an investment is accounted for under the equity method, the investor increases investment income and the investment account for amortization of goodwill acquired in the investment. TRUE or FALSE?

4. Purchases and sales of securities are never reported as investing activities in a statement of cash flows. TRUE or FALSE?

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