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Homework: Homework 08 Chapter Save Score: 0 of 1 pt 3 of 3 (o complete) v HW Score: 0%, 0 of 3 pts P8-64B (similar to) Question Help Nebraska Exchange company completed the following long-term investment transactions during 2016 (click the icon to view the transactions.) At year-end, the fair value of the Amsterdam stock is s30.900. The fair value of the 000 Requirements Brentwood stock is s 1. For which investment is fair value used in the accounting? why is fair value used for one investment and not the other? 2. Nebraska Exchange would report on ar-end balance sheet, income statement, and statement of for these investment transactions. is helpful to use a T-account for the comprehensive income Investment account ignore income tax Requirement 1. For which investment is fair value used in the accounting? Why is fair value used for one investment and not the other? current fair value is used to account for the v investment in Amsterdam, Inc Fair value is not used for the investment because the investor holds the stock to