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?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
When there are too few or too many resources going to an economic activity?
Answers (1)
HighGrowth Company has a stock price of $ 23. The firm will pay a dividend next year of $ 1.19 , and its dividend is expected to grow at a rate of 3.7 % per year thereafter.
Answers (1)
Developing a "marketing plan" involves nothing more than assembling the Four Ps of the marketing mix better than one's competitors. a.
Answers (1)
Laura is a billing clerk in a medium-sized manufacturing company. she reports to the supervisor of accounts payable, who in turn reports to the manager of accounting.
Answers (1)
Maldonia has a comparative advantage in the production of sugar, while desonia has a comparative advantage in the production of potatoes.
Answers (1)
New Questions in Business
An investor shorts 100 shares when the share price is $50 and closes out the position six months later when the share price is $43. The shares pay a dividend of $3 per share during the six months. What is the investor's profit or loss? a.
Answers (1)
Which term refers to the beginning of the constitution?
Answers (1)
The risks of a focus strategy include: a. decisions by focused competitors to use their resources to serve a wider range of customers' needs. b.
Answers (1)
Floyd Industries stock has a beta of 1.30. The company just paid a dividend of $.30, and the dividends are expected to grow at 4 percent per year. The expected return on the market is 13 percent, and Treasury bills are yielding 4.5 percent.
Answers (1)
Martin is offered an investment where for $ 6 comma 000 today, he will receive $ 6 comma 420 in one year. He decides to borrow $ 6 comma 000 from the bank to make this investment.
Answers (2)