51. Under what circumstances do we use the equity method to account for an investment in stock? Explain how we record dividends received from an investment in a company accounted for using the equity...

51. Under what circumstances do we use the equity method to account for an investment in stock? Explain how we record dividends received from an investment in a company accounted for using the equity method.

52. Discuss the meaning of consolidated financial statements. When is it appropriate to consolidate financial statements of two companies?

53. Investments in
debt
securities are classified for reporting purposes in one of three categories. List these three categories and explain which investments are included in each category. Also briefly describe how the reporting differs for each category.