Transfers Between Categories

question 126

Multiple Choice

Transfers between categories

• A) result in companies omitting recognition of fair value in the year of the transfer.
• B) are accounted for at fair value for all transfers.
• C) are considered unrealized and unrecognized if transferred out of held-to-maturity into trading.
• D) will always result in an impact on net income.

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Definitions:

Appellate Court

A court that has the authority to review and make decisions on cases that have been previously judged in a lower court.

Judgment N.o.v.

Short for "judgment non obstante veredicto," a legal motion requesting the court to reverse the jury's verdict on the grounds that the jury could not have legally provided such verdict based on the facts.

Matter of Law

An issue that is determined by statutes, legal precedent, or constitution, rather than by the factual situation of a case.

Appellate Court

a court that has the authority to review and make changes to the decisions of lower courts.