Angular Co

question 57

Multiple Choice

Angular Co.purchased the following portfolio of available-for-sale securities during 2014 and reported the following balances at December 31,2014.No sales occurred during 2014.All declines are considered to be temporary.

Angular Co.should report what amount related to the securities transactions in its 2014 income statement?

• A)$0
• B)$2,000 unrealized loss
• C)$10,000 unrealized loss
• D)$12,000 unrealized loss

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Definitions:

Lawrence Kohlberg

An American psychologist best known for his theory of stages of moral development.

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The protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them.

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A denomination of currency in the United States worth 5 cents.

Pennies

A form of currency in many countries, often the smallest denomination within the currency system.