Which of the following stock investments should be accounted for using the fair value method?
a. all investments of less than 50% ownership
b. investments between 20% and 50% ownership
c. investments of over 50% ownership
d. investments of less than 20% ownership
2. An investor purchased 410 shares of common stock, $21 par, for $19,270. Subsequently, 97 shares were sold for $32 per share. What is the amount of gain or loss on the sale?
a. $1,455 loss
b. $2,522 gain
c. $2,522 loss
d. $1,455 gain
Title_with_topic: Stock Investments and Gain/Loss Calculation