At the End of an Accounting Period If the Fair

question 94

Short Answer

At the end of an accounting period if the fair value of the trading portfolio is less than its cost then the company should recognize an ______________ which is reported on the _________________.

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Definitions:

Outcome Estimates

Predictions or projections of the financial results and conditions based on current trends, economic conditions, and known variables.

Refundable Deposits

Deposits made that can be returned to the depositor under certain conditions.

Cumulative Preferred Stock

A type of preferred stock that accrues dividends if they are not paid as scheduled, with these unpaid dividends to be paid out before common shareholders can receive dividends.

Unearned Interest

Interest that has been collected on a loan by the lender but not yet earned, often because the loan may be paid off early.