Unrealized Holding Gains Flow Through Income or OCI for FVTOCI

question 46

True/False

Unrealized holding gains flow through income or OCI for FVTOCI investments.

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Definitions:

Pledges Receivables

Amounts promised by donors to an organization that are still outstanding.

Borrow

To borrow means to receive something of value, especially money, from a lender under the agreement to return it, typically with additional interest, at a future date.

Pledges Receivables

Outstanding amounts owed to an organization based on pledges made by donors, often recognized in nonprofit accounting.

Journal Entry

The recording of financial transactions into accounting records, detailing the accounts that are affected and in what way.