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On December 31, 2010, trading securities with an original cost of $45,000 have a market value of $47,000. On January 11, 2011, those trading securities are sold for $51,000. Determine the gains or losses in 2009 and 2010 associated with these trading securities. Clearly label whether the gains or losses are realized or unrealized. Name the financial statement on which each is reported.
Identity Competence
The capacity or skill to construct and understand one's sense of identity in various contexts.
Foreclosure
In developmental psychology, it refers to a premature commitment to an identity without adequate exploration of other options.
Psychohistorical Analysis
An interdisciplinary study combining psychology and history to understand historical figures' motivations or how psychological forces shape historical events.
Significant Personalities
Influential individuals whose actions, ideas, or presence have had a profound impact on society or a particular field.
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