Both Realized and Unrealized Gains and Losses for Equity Securities

question 44

True/False

Both realized and unrealized gains and losses for equity securities with no significant influence and a readily determinable fair value are classified as other income on the income statement.

---

Definitions:

Rent Expense

Costs incurred from leasing a property or space for business operations or personal use.

Rental Income

Earnings generated from leasing out property or equipment, recorded as income by the property owner or lessor.

Normal Balance

The aspect of an account, be it on the debit or credit side, designated for recording increments to the account.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account.