Realized Gains and Losses Are Recognized on the Sale of Investments

question 63

Multiple Choice

Realized gains and losses are recognized on the sale of investments

• A)at the end of the year
• B)when included on the balance sheet of the company and have an impact on net income
• C)when they are sold
• D)when included on the income statement of the company and have no impact on net income

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Definitions:

Toxic Substances Control Act

A U.S. law, enacted in 1976, aimed at regulating the introduction of new or already existing chemicals.

Federal Insecticide, Fungicide, and Rodenticide Act

A United States federal law passed in 1947 that provides federal control of pesticide distribution, sale, and use.

Clean Water Act

A U.S. federal law aimed at regulating the discharge of pollutants into the nation's surface waters, including lakes, rivers, streams, and coastal areas.

Federal Government

The national government of a federation, which holds the authority to govern the entire country, distinct from state or local governments within the federation.