Use the Following Information for Questions

question 63

Multiple Choice

Use the following information for questions .
At the end of Fanning Corporation's fiscal year, its portfolio of trading investments purchased during the year is as follows:
-At the end of the year, Fanning Corporation normally would

• A) make no entry.
• B) increase trading investments to market value.
• C) report an loss on the income statement for $3,000 under "Other Expenses".
• D) report an loss on the income statement for $1,000 under "Other Expenses".

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