Which of the following transactions is not reported as other comprehensive income according to U.S.GAAP?
A)unrealized gains and losses from available-for-sale portfolio of investment securities
B)unrealized gains on the upward valuation of property,plant,and equipment
C)adjustments to unrecognized pension costs (benefits)
D)foreign currency translation gains and losses

Question

Quizplus · Accepted Answer

Unrealized gains on the upward valuation of property, plant, and equipment are not reported as other comprehensive income according to U.S. GAAP. Instead, they are recognized as a component of net income in the period when the valuation occurs. The other choices, A, C, and D, are all reported as other comprehensive income under U.S. GAAP.

Which of the Following Transactions Is Not Reported as Other