An Unrealized Holding Gain Is Reported on the Income Statement

question 105

True/False

An unrealized holding gain is reported on the income statement when the fair value of an available-for-sale security exceeds its cost.

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Definitions:

Utilitarian

An ethical philosophy that advocates for actions to be made based on their outcomes, specifically aiming to maximize overall happiness and reduce suffering.

Professional Standards

Established norms and criteria in a profession that practitioners are expected to follow to ensure quality and integrity.

Distributive Justice

Concerns the fair allocation of benefits and resources among individuals in a society or group, considering equity and equality.

Disclosure

The act of making new or secret information known.