A
Acadi
Fi
Courses
Knowledge Hub
Community
Practice
Pricing
About
Search
⌘K
Question Bank
/
CFA
/
Level I
/
Financial Reporting & Analysis
Financial Reporting & Analysis
Medium
Crestmont Bank purchases a $1,000,000 corporate bond at par yielding 6%. At year-end, the fair value is $1,020,000. If the bond is classified as FVOCI under IFRS 9, what is the total impact on the income statement?
A
$60,000 interest income only
B
$80,000 total (interest plus unrealized gain)
C
$20,000 unrealized gain only
D
$60,000 interest income and $20,000 unrealized gain
Select an answer to continue
Tags
#fvoci
#financial-instruments
#ifrs-9
#interest-income
#oci
More Financial Reporting & Analysis questions
Start full Level I quiz