Franklin Corp. has a debt investment that it has held forseveral years. When it purchased the debt investment,Franklin classified and accounted for it as available-forsale.Can Franklin use the fair value option for thisinvestment? Explain.
Franklin Corp. has a debt investment that it has held for
several years. When it purchased the debt investment,
Franklin classified and accounted for it as available-forsale.
Can Franklin use the fair value option for this
investment? Explain.

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