Where Are Changes in Fair Value for Trading Securities Reported

question 4

Multiple Choice

Where are changes in fair value for trading securities reported?

• A)as operating income or loss on the income statement
• B)as income or loss from peripheral activities on the income statement
• C)as a component of accumulated other comprehensive income on the balance sheet
• D)as a prior period adjustment to retained earnings on the balance sheet

Grasp the necessity for administrative agencies to comply with certain acts and constitutional provisions.

Define and differentiate between major and minor rules within administrative rulemaking.

Explain the selection process of Administrative Law Judges (ALJs).

Understand factors considered in the administrative process for adopting new rules.

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Definitions:

Intellectual Property

Property that results from intellectual, creative processes. Copyrights, patents, and trademarks are examples of intellectual property.

Trademark

A distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or otherwise affixes to the goods it produces so that they can be identified on the market and their origins made known. Once a trademark is established (under common law or through registration), the owner is entitled to its exclusive use.

Patent

A government grant that gives an inventor the exclusive right or privilege to make, use, or sell an invention for a limited time period.

Copyright

The exclusive right of an author or other creator to publish, print, or sell an intellectual production for a statutory period of time.