When a Company Sells a Trading Security, the Gain on the Sale

question 74

Multiple Choice

When a company sells a trading security, the Gain on the Sale of Trading Securities is reported in the:

• A)stockholders' equity section of the balance sheet.
• B)short-term investments section of the balance sheet.
• C)other revenue, gains, and losses section of the balance sheet.
• D)other revenues and gains of the income statement.

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Definitions:

Anxiety Disorders

A group of mental health disorders characterized by significant feelings of anxiety and fear that interfere with daily activities.

Dissociative Disorders

A group of mental disorders characterized by an involuntary escape from reality, involving disruptions in identity, memory, awareness, perception, and/or sense of self.

Personality Disorders

Mental disorders characterized by rigid and unhealthy patterns of thinking, functioning, and behaving.

Psychotic Disorders

A group of mental disorders characterized by abnormal thinking and perceptions, including delusions and hallucinations, leading to a disconnect from reality.