Question

In relation to Accounting for Investments, which of the

following statements is/are correct? Statement-1: The carrying amount for long-term investments is the lower of cost and fair value. Statement-2: Current investments are usually carried at cost.

A Only statement-2 is correct

B Neither statement-1 nor statement-2 is incorrect

C Only statement-1 is correct.

D Both statement-1 and statement-2 are correct.

Practice Next

More Accounts Questions

Earth day is celebrated on every 22nd April related with
Which of the following statements about Preamble is correct?
Which of the following is/are Fundamental duty/duties incorporated in the constitution of India by the 42nd constitutional amendment act?

1. ...
Which of the following statements is INCORRECT?
Which of the following option is incorrect about “Kisan Samman Nidhi Yojana”?
What is the principle of fair value accounting?
Which tourist destination from amongst the following will be developed as an international destination for tourism according to the Budget 2002-03?
What will be the next number of the series

3, 6, 10.5, 17, 26, ?
Language that the computer understands and executes?
Which of the following Financial Institutions in India is/are regulated by the Reserve Bank of India?

I. Sma...

In relation to Accounting for Investments, which of the

Solution