Wright Company Has Available-For-Sale Debt and Equity Securities That on December

question 20

Multiple Choice

Wright Company has available-for-sale debt and equity securities that on December 31, 2014, had a cost of $110,000 and a market value of $108,000. The market value rose to $123,000 by December 31, 2015. What accounting action is required on December 31, 2015?

• A) Allowance for Change in Fair Value of Investments should be credited for $15,000.
• B) Unrealized Holding Gain/Loss-Available-for-Sale Securities should be debited for $13,000.
• C) Allowance for Change in Fair Value of Investments should be debited for $15,000.
• D) Unrealized Holding Gain/Loss-Available-for-Sale Securities should be credited for $13,000.

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Definitions:

Early Sessions

The initial meetings or periods of activity in a process such as therapy, training, or consultation.

Nonverbally Object

Expressing disagreement or refusal without the use of spoken words, often through body language or other forms of nonverbal communication.

Directives

Instructions or orders given with authority, which are meant to guide or command actions.

High-level Empathic Responding

A communication approach that involves deeply understanding and reflecting back the feelings and thoughts of others without judgment.