All of the Following Are Not True Regarding the Fair

question 78

Multiple Choice

All of the following are not true regarding the Fair Value Adjustment - Trading account except

• A) the account is only adjusted at the end of the accounting period.
• B) a debit balance in the account is subtracted from the cost of the investments so that the investments are reported at fair value.
• C) the account is adjusted for the difference between the investments' fair value and cost.
• D) if the total cost of the securities is greater than the total fair value, the account will be credited.

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