Which of the Following Is/are True Regarding Reporting Trading Securities

question 108

Multiple Choice

Which of the following is/are true regarding reporting trading securities at fair value on the balance sheet.

• A)Active securities markets provide objective measures of fair values for trading securities.
• B)Fair values provide financial statement users with the most relevant information for assessing the success of a firm's trading activities over time.
• C)U.S.GAAP and IFRS require firms to report trading securities at fair value on the balance sheet.
• D)all of the above
• E)none of the above

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Definitions:

Public Purpose

Concise definition: The rationale behind legislative actions or government spending which must benefit the public at large, rather than specific individuals or groups.

Fair Compensation

Equitable financial remuneration offered for work performed or damages incurred, intended to justly reflect the value of the labor provided or the loss suffered.

Constitutional Rights

Rights that are granted and protected by a country's constitution, safeguarding personal freedoms and legal entitlements.

Drug Smuggling

The illegal transport of drugs from one location to another, often across international borders, in violation of the law.