Under current (rules prior to 2018) U.S. GAAP, minority, passive investments in equity securities are classified as either trading or available-for-sale. Fluctuations in fair value of these securities are reported as part of (OCI = other comprehensive income):
a. Net income for both types of security.
b. OCI for both types of security.
c. OCI if a trading security and net income if an available-for-sale security.
d. Net income if a trading security and OCI if an available-for-sale security.
d. Net income if a trading security and OCI if an available-for-sale security.
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A feasibility study is used to gather broad data for the members of management that in turn enables them to make a decision on whether to proceed with a systems study
Indicate whether the statement is true or false
A distributor of outdoor yard lights has four suppliers. This past season she purchased 40% of the lights from Franklin Lighting, 30% from Wilson & Sons, 20% from Evergreen Supply, and the rest from A. L. Scott
In prior years, 3% of Franklin's lights were defective, 6% of the Wilson lights were defective, 2% of Evergreen's were defective, and 8% of the Scott lights were defective. When the lights arrive at the distributor, she puts them in inventory without identifying the supplier. Suppose that a defective light string has been pulled from inventory; what is the probability that it was supplied by Franklin Lighting?A) 0.33 B) 0.45 C) 0.18 D) 0.29