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Unrealized Holding Gains and Losses Are Included in Other Comprehensive

question 57

True/False

Unrealized holding gains and losses are included in other comprehensive income for securities that are classified as available for sale.


Definitions:

Book Value

The cost of a fixed asset minus accumulated depreciation on the asset.

Unearned Rent

Revenue received by a landlord for rent that has not yet been earned because the rental period has not occurred.

Net Income

The net income of a business once all costs and taxes are subtracted from the total earnings.

Accumulated Depreciation

The total amount of an asset's cost that has been allocated as depreciation expense over the asset's useful life to date.

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