The Market Value of an Available-For-Sale Security Has Increased from the Last

question 110

Multiple Choice

The market value of an available-for-sale security has increased from the last carrying value. The journal entry to record this increase will include:

• A)a debit to the Allowance to Adjust Investment to Market.
• B)a credit to the Allowance to Adjust Investment to Market.
• C)a debit to the Unrealized Gain on Investment.
• D)none of the above.

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Definitions:

Oil Shale

Sedimentary rock containing organic matter that can be converted into shale oil through heating; a potential but controversial energy resource.

Oil and Gas

Natural hydrocarbon resources extracted from the Earth, used primarily for energy, heating, and in various industrial applications.

Coal

A black or brownish-black sedimentary rock that is formed from compressed organic matter and used as a fuel.

Rites of Enhancement

Traditional or ceremonial acts that improve or elevate the status of individuals within a community or organization.