The Fair Value Option for Liabilities Reports Unrealized Gains and Losses

question 53

Multiple Choice

The fair value option for liabilities reports unrealized gains and losses ________.

• A)as other comprehensive income
• B)directly to retained earnings
• C)in net income
• D)as long-term capital gains

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Definitions:

Parents Involved

Refers to the landmark Supreme Court case "Parents Involved in Community Schools v. Seattle School District No. 1," which addressed issues of racial integration and affirmative action in schools.

Seattle School District

A public school district serving the city of Seattle, Washington, responsible for the education of children in kindergarten through 12th grade.

Brown Era

A period in American history, often associated with the Brown v. Board of Education case, marked by significant developments in the civil rights movement.

Racial Integration

The process of ending racial segregation and bringing people of different races into equal membership in society.