Raiza Company acquired a financial asset at the market value of P3,200,000. Broker fees of...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Raiza Company acquired a financial asset at the market value of P3,200,000. Broker fees of P200,000 were incurred in relation to the purchase. At what amount should the financial asset initially be recognized if it is classified as fair value through profit or loss, or as at fair value through other comprehensive income?
a.P3,200,000 and P3,200,000
b.P3,200,000 and P3,400,000
c.P3,400,000 and P3,400,000
d.P3,400,000 and P3,200,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
