When an Available-For-Sale Security Is Sold, Any Unrealized Gains or Losses

question 117

True/False

When an available-for-sale security is sold, any unrealized gains or losses would need to be reclassified from the Allowance for Change in Fair Value of Investments account in order to avoid double counting any gains or losses recorded in comprehensive income.

---

Definitions:

Slider Tool

A user interface element allowing the adjustment of values through a sliding mechanism, commonly used for controlling volume or zoom levels.

Album

A collection of audio recordings issued as a single item on CD, record, or another medium, or a digital collection of music tracks.

Folder

A digital container used in computing to organize files and other folders in a hierarchical structure for easy navigation and storage.

Collection

A group of objects or works to be seen, studied, or kept together.