Question Details

classifications are not the same for GAAP and IFRS



1.	Debt investments that are held for collection are recorded at
a.	amortized cost.
b.	fair value.
c.	original cost.
d.	maturity value.



2.	Which of the following investment classifications are not the same for GAAP and IFRS?
a.	Trading
b.	Held-for-collection
c.	Non-trading
d.	All of the above are the same.

3.	Which of the following are accounted for at amortized cost?
a.	Held-for-collection investments
b.	Trading investments
c.	Non-trading investments
d.	Both Held-for-collection and Non-trading investments



4.	Unrealized gains and losses related to non-trading equity investments are reported in other comprehensive income under
a.	GAAP only.
b.	IFRS only.
c.	Both GAAP and IFRS.
d.	Neither GAAP or IFRS.




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