Which of the Following Is True Regarding the Reporting of Investments

question 130

Multiple Choice

Which of the following is true regarding the reporting of investments by state and local governmental units?

• A) Investments, for which a determinable fair value can be obtained, are to be reported at fair value.
• B) Realized and unrealized gains and losses are to be combined in the relevant operating statement (for example, the Statement of Changes in Fiduciary Net Assets).
• C) Both of the above.
• D) Neither of the above.

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Definitions:

War Theory

A subset of military theory that explores the philosophies, ethics, and logistics of warfare and conflict.

Expansion Phase

A period in the business cycle during which the economy grows and unemployment decreases.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, organized into two opposing military alliances: the Allies and the Axis.

Recessions

Instances of provisional economic weakness where both trading and industrial activities fall off, universally determined by a two-quarter continuous drop in GDP.