Which of the Following Is/are True

question 19

Multiple Choice

Which of the following is/are true?

• A)The required accounting for trading securities and for securities classified as available-for-sale differs with respect to the income statement but not with respect to the balance sheet.
• B)The unrealized gain or loss on trading securities appears in net income in the period when fair value changes occur.
• C)The unrealized holding gain or loss on securities available-for-sale appears in other comprehensive income period by period, and its cumulative amount resides in the Accumulated Other Comprehensive Income account on the balance sheet.
• D)Users of the financial statements should be alert to this accounting effect in evaluating the profitability of firms with both trading securities and securities available-for-sale.
• E)all of the above

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Definitions:

Appendicular Skeleton

The portion of the skeleton that includes the bones of the limbs and girdles, facilitating movement.

Pelvic Girdles

The ring-like bony structure, located in the lower part of the trunk, that supports the lower limbs and attaches them to the spine.

Pectoral Girdles

The skeletal framework in the shoulders region that supports the arms, consisting of the clavicles and scapulae.

Posteriorly

Relating to or located toward the back of the body.