When a Company Sells a Trading Security, the Gain on the Sale

question 74

Multiple Choice

When a company sells a trading security, the Gain on the Sale of Trading Securities is reported in the:

• A)stockholders' equity section of the balance sheet.
• B)short-term investments section of the balance sheet.
• C)other revenue, gains, and losses section of the balance sheet.
• D)other revenues and gains of the income statement.

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