Which of the Following Is True Regarding Accounting for Investments

question 85

Multiple Choice

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

• A) Investments in all securities with determinable fair values (including bonds held to maturity) are to be reported at fair value
• B) Realized gains and losses are to be reported separately from unrealized gains and losses in the Statement of Changes in Fiduciary Net Assets
• C) Both of the above
• D) A or B above

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Definitions:

Asian Cultures

The shared practices, languages, traditions, and beliefs of people living in Asian countries, which are diverse and vary significantly across the region.

Independence

The state of being self-reliant and not dependent on others for decision-making or support.

Object Permanence

The acknowledgment that objects keep their presence, unaffected by their immediate invisibility or inaudibility to human senses.

Self-reliant

The ability to rely on one's own capabilities, resources, and judgments to meet one's needs without external assistance.