The unrealized gain/loss from investment valuation for trading securities and available-for-sale securities should be reported in: Select one: a. the income statement for both securities. b. the balance sheet statement for both securities. c. the income statement and the balance sheet statement, respectively. d. the balance sheet statement and the income statement, respectively.
1. The unrealized gain/loss from investment valuation for trading securities and available-for-sale securities should be reported in:
Select one:
a.
the income statement for both securities.
b.
the
c.
the income statement and the balance sheet statement, respectively.
d.
the balance sheet statement and the income statement, respectively.
In applying the fair value option under ASC 825-10-25 (Predecessor literature Statement of Financial Accounting Standards No. 159: The Fair Value Option for Financial Assets and Financial Liabilities), a company
Select one:
a.
has the option to apply the fair value option to its investments classified as securities held-to-maturity and securities-available-for-sale on an instrument-by-instrument basis.
b.
is required to apply the fair value option to its investments classified as securities held-to-maturity and securities available-for-sale.
c.
has to apply the fair value option to all (not some) investments in securities if it elects the fair value option.
d.
none of the above.
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