Profits on disposal of current and long-term investments are shown:
Aonly in a tax schedule
Binside the reserves account
Ctogether as a single total
Dseparately for each class
Answer & Solution
Correct answer: D. separately for each class
The profit and loss disclosure gives separate lines for current and long term investments.
Keep practising AS 13 Accounting for Investments
Browse all AS 13 Accounting for Investments questions for CA Inter, or explore more Accounting topics.
Related questions
Statements classify fixed assets, investments and current assets into:A readily realisable investment is meant to be held for 18 months. It is:A readily realisable investment made on 1 April is intended to be sold on 15 February nextIf dividend cannot be allocated except arbitrarily, cost is cut only if it:Interest and rentals on investments are shown separately for:A significant restriction on selling an investment must be:Disclosure of investments must include the policies for determining:Shares bought for Rs 2,00,000 carry brokerage of 1% and stamp duty of 0.25%. Cost?