FAR 3 Flashcards
1
Q
Stock dividend is reported as
A
a memorandum entry reducing the unit cost of all Guard stock owned
2
Q
Unrealized gain/loss from held to maturity securities
A
Disclosure and footnote only
3
Q
If FV is elected, then unrealized gain/loss held-to-maturity and available-for-sale is recorded in
A
Earnings (income from continuing operations)
4
Q
Under IFRS, to qualify for equity, the company must exercise significant influence, and the company must have what % of ownership
A
20-50%
