The following statements are based on PAS 28 (Investment in Associate):
Statement I: Generally, Investment in Associate shall be accounted for using the equity method.
Statement II: Cash dividend should not be treated as dividend income in all cases even if the investor loses significant influence over the associate.
Statement III: Impairment loss is recognized as the difference between recoverable amount and the carrying value of the investment in all cases.
4.
a. Only statement I is true
b. Only statement II is true
c. Only statement III is false
d. All of the above statements are false