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If a partnership is dissolved, an asset does NOT legally return to the partner who originally contributed it.
Available-For-Sale
A classification for securities that are not held to maturity or for trading purposes, with unrealized gains or losses reported in equity.
Carrying Value
The stated value of an asset on a company's balance sheet, minus accumulated depreciation or amortization.
Available-For-Sale
A classification for financial assets indicating they are not primarily held for trading purposes or expected to be sold in the short-term, allowing for changes in value to be recorded in other comprehensive income.
Amortized Cost
The initial investment amount of a financial asset or liability adjusted for principal repayments and, if applicable, the cumulative effect of using the effective interest method.
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