Question: NEED HELP ASAP Consider the following statements: Statement 1. Equity investments with insignificant influence can't be classified as either current or long-term assets based on

NEED HELP ASAP

Consider the following statements: Statement 1. Equity investments with insignificant influence can't be classified as either current or long-term assets based on management's intent Statement 2. Gain or loss from fair value adjustments are reported as part of net income for short-term investments in bonds or non- strategic equity investments Which of the statements is/are correct? Select one: a. Neither of the statements is correct b. Both statements are correct c. Only statement 2 is correct d. Only statement 1 is correct

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