If Ziggy Company concluded that an investment originally classified as held to maturity would now more appropriately be classified as available for sale, Ziggy would:
a) Reclassify the investment as available for sale and immediately recognize in net income any unrealized holding gain or loss on the reclassification date.
b) Not reclassify the investment, as original classifications are irrevocable.
c) Need to restate earnings, as the original classification was in error.
d) Reclassify the investment as available for sale and immediately recognize in accumulated other comprehensive income any unrealized holding gain or loss on the reclassification date.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If Ziggy Company concluded that an investment originally classified as held to maturity would now more appropriately be classified as ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Kelly Addison is a designer clothing buyer for a chain of department stores. She has gone through several negotiation certification programs and is considered an expert negotiator by her peers.
Answers (1)
Some examples of security measures to safeguard inventory include1. storing inventory in areas that are restricted to only authorized employees. 2. locking high-priced inventory in cabinets. 3.
Answers (1)
This term refers to when members in a society must rely on others to supply products and services they cannot provide for themselves. A.) Comparative Advantage B.) Absolute Advantage C.) Specialization D.
Answers (2)
Campbell Candy Corporation desires a 14% return on investment (ROI) on all operations. The following information was available for the company for the current year: Sales $ 14,000 Operating income $ 4,000 Turnover 0.
Answers (1)
RHO Company began its operations on January 1 and produces a single product that sells for $10.25 per unit. The standard capacity is 80,000 units per year. The 80,000 units were produced, and 70,000 units were sold during the year.
Answers (1)
New Questions in Business
Greyon spinning Mills Inc. owns 600 spinning machines out of these, only 500 are used in a given year. Given this information, the utilization of spinning machines at Greyon Spinning Mills Inc. is ___. A. 1 B. 0.83 C. 1.2 D. 0.75
Answers (1)
The firm that allows customers to select from a variety of standard options to create the service or product of their choice is practicing Group of answer choices none of the above. postponement. channel assembly. mass customization.
Answers (1)
Which of the following statements is true? a An increase in the money supply lowers the equilibrium rate of interest. b The supply of money curve is downward sloping. c The supply of money curve is a horizontal line.
Answers (1)
Why do you think the government is concerned with the definition of unemployment?
Answers (1)
Jodi just described how Best Buy's new program required a very different way of defining work. Because the hours are no longer imposed by the organization but are rather left up to the individual, Best Buy will need individuals with certain skills
Answers (1)