X Brutus Company owned the following investments at year-end before fair value adjustments and amortization: Financial assets at fair value through profit or loss, P600,000; financial assets at fair value through OCI, P350,000; financial assets at amortized cost, P470,000. What total amount of noncurrent assets should be reported at year-end? * P1,070,000 P950,000 P820,000 P820,000 or an amount greater or less depending on the circumstances
X Brutus Company owned the following investments at year-end before fair value adjustments and amortization: Financial assets at fair value through profit or loss, P600,000; financial assets at fair value through OCI, P350,000; financial assets at amortized cost, P470,000. What total amount of noncurrent assets should be reported at year-end? * P1,070,000 P950,000 P820,000 P820,000 or an amount greater or less depending on the circumstances
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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