52. Assume a company has the following portfolio of marketable securities which was
acquired at the end of 2009:
Category Original Cost in €
Fair Market Value in €
as at the Year End, 2010
as at the Year End, 2009
Held for trading 12,000,000 12,500,000
Available for sale 17,000,000 16,000,000
If the company reports under IFRS instead of U.S. GAAP, its net income will most likely
be:
A. the same.
B. €500,000 lower.
C. €500,000 higher.
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