When a Company Sells a Trading Investment, the Gain or Loss

question 84

Multiple Choice

When a company sells a trading investment, the gain or loss on the sale is reported in the:

• A)other revenue, gains, and losses section of the income statement.
• B)revenues section of the income statement.
• C)other revenue, gains, and losses section of the balance sheet.
• D)short- term investments section of the balance sheet.