Which of the Following Regarding Trading Securities Is Correct

question 13

Multiple Choice

Which of the following regarding trading securities is correct?

• A)Trading securities are reported at cost on the balance sheet date, and unrealized holding gains and losses are included in income of the current period.
• B)Trading securities are reported at fair value on the balance sheet date, and unrealized holding gains and losses are included in income of the current period.
• C)Trading securities are reported at fair value on the balance sheet date, but unrealized holding gains and losses are not included in income of the current period.
• D)Trading securities are reported at cost on the balance sheet date, but unrealized holding gains and losses are not included in income of the current period.

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