At January 1,2014,a Company Had a Net Valuation Allowance Account

question 32

Multiple Choice

At January 1,2014,a company had a net valuation allowance account credit balance for investments in securities available-for-sale of $20,000.At December 31,2014,the total cost of the relevant portfolio was $300,000,and total market value was $275,000.The entry required on December 31,2014,would reflect a

• A) $5,000 decrease in net income.
• B) $25,000 decrease in net income.
• C) credit of $5,000 to the valuation allowance account.
• D) debit of $25,000 to the unrealized loss account.

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Definitions:

Influential Company Contacts

Key individuals within a company who have significant influence over decisions and organizational directions.

Conflict Resolution

The methods and processes involved in facilitating the peaceful ending of conflict and retribution, often through negotiation, mediation, or dialogue among parties.

Collaborative Problem Solving

this method involves two or more individuals working together in a cooperative manner to solve a problem or achieve a goal.

Group Potency

The collective belief of a team in its own capability to succeed in a given task or project.