Quiz 12.141 – Terms and Phrases
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Match each phrase with its corresponding terminology, business purpose test, IFRS no. 9, etc…
Match each phrase with its corresponding terminology, business purpose test, IFRS no. 9, etc…
Using the indirect method, how would the following transactions impact the statement of cash flows for XYZ Corporation?
If a company such as Dinsburry determines that an investment previously classified as trading security is now more appropriately classified as held-to-maturity, what actions would it take?
How would Ziggy Company proceed if it decides to reclassify an investment from held-to-maturity to available-for-sale?
What action would Dizbert Company take if it determined that an investment initially classified as available-for-sale is now more appropriately categorized as held-to-maturity?
How does accounting for an investment as a trading security compare to accounting for it as an available-for-sale security, in terms of its impact on a company’s cash flows and reported profit?
What is a disadvantage of using ________, as firms can manipulate their net income by selectively selling investments with unrealized holding gains or losses?
What happens to accumulated other comprehensive income (AOCI) and other comprehensive income (OCI) when an available-for-sale debt investment with unrealized holding gains is sold?
hat is the impact on total comprehensive income when an available-for-sale investment in debt securities are sold, and there are unrealized holding losses in accumulated other comprehensive income (AOCI)?
What would be the impact of the increase in fair value of a debt securities investment owned by Sloan Company on total shareholders’ equity after all 2021 closing entries are done?