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What may be assumed for jack and jill

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Reference no: EM132662507

Problem 1: Jack and Jill both work for companies that have investments which are available for sale, but which are still held since they have declined in value. Jack has recorded the unrealized loss on his company's investments in OCI. Jill has not recorded any such loss at all. What may be assumed here?

a. Both Jack and Jill are following ASPE.
b. Jack is following IFRS, while Jill is following ASPE
c. Jill is following IFRS, while Jack is following ASPE.
d. Both Jack and Jill are following IFRS.

Reference no: EM132662507

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