Under GAAP, Unrealized Gains on Non-Trading Share Investments Should

question 121

Multiple Choice

Under GAAP, unrealized gains on non-trading share investments should

• A) be reported as other comprehensive income.
• B) not be reported on the income statement or statement of financial position.
• C) be reported as other gains on the income statement as part of net income.
• D) be reported as other revenues and gains in the income statement as part of net income.

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Definitions:

Modified Block

A format style for business letters where the body is left-aligned, and the date and closing begin at the center point.

Complimentary Close

A polite phrase or word used to conclude a letter or email, such as "Sincerely" or "Best regards".

Right Margin

The space on the right side of a page or screen where text or content ends, creating a visual border.

Essential Business Letter Elements

The crucial components of a business letter, including the date, recipient's address, salutation, body, closing, and signature.