Which statement is correct about non-strategic investments?
A)IFRS carries FVOCI investments at fair value with only unrealized losses going to net income.
B)ASPE carries FVOCI investments at fair value with only unrealized losses going to net income.
C)IFRS carries FVOCI investments at fair value with unrealized gains and losses going to OCI.
D)ASPE carries FVOCI investments at fair value with unrealized gains and losses going to OCI.

Question

Quizplus · Accepted Answer

According to IFRS, non-strategic investments that are classified as Fair Value through Other Comprehensive Income (FVOCI) are carried at fair value with unrealized gains and losses going to Other Comprehensive Income (OCI). ASPE follows a similar approach, carrying FVOCI investments at fair value with only unrealized losses going to net income. Therefore, option C is the correct statement.

Which Statement Is Correct About Non-Strategic Investments