All of the Following Statements Regarding Accounting for Trading Securities

question 138

Multiple Choice

All of the following statements regarding accounting for trading securities under U.S. GAAP are True except:

• A) The entire portfolio of trading securities is reported at is fair value.
• B) An unrealized gain or loss from a change in fair value is reported on the income statement.
• C) A realized gain or loss is recorded when the securities are sold and reported on the income statement.
• D) When the period-end fair value adjustment for the portfolio of trading securities is computed, it includes the cost and fair value of any securities sold.
• E) When the period-end fair value adjustment for the portfolio of trading securities is computed, it excludes the cost and fair value of any securities sold.

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Definitions:

Eight

The number following seven and preceding nine, represented in numerals as 8, and considered a symbol of balance and power in various cultures.

Culture

The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Human Development

The multidimensional process of physical, cognitive, and social growth and change throughout a person's lifespan.

Plasticity

refers to the brain's capacity to change and adapt as a result of experience or learning.