Deutsche Corporation's trading portfolio at the end of the year is as follows: At the end of the year, Deutsche Corporation should
A) set up a Fair Value Adjustment account for Common Stock B.
B) set up a Fair Value Adjustment account for the portfolio.
C) recognize an Unrealized Gain or Loss-Income for $6,000.
D) report a loss on the income statement for $6,000 under "Other Expenses and Losses."

Question

Deutsche Corporation's trading portfolio at the end of the year is as follows:  At the end of the year, Deutsche Corporation should
A) set up a Fair Value Adjustment account for Common Stock B. 
B) set up a Fair Value Adjustment account for the portfolio. 
C) recognize an Unrealized Gain or Loss-Income for $6,000. 
D) report a loss on the income statement for $6,000 under "Other Expenses and Losses."

Quizplus · Accepted Answer

The Answer of Deutsche Corporation's trading portfolio at the end of the year is as follows:  At the end of the year, Deutsche Corporation should
A) set up a Fair Value Adjustment account for Common Stock B. 
B) set up a Fair Value Adjustment account for the portfolio. 
C) recognize an Unrealized Gain or Loss-Income for $6,000. 
D) report a loss on the income statement for $6,000 under "Other Expenses and Losses."

Deutsche Corporation's Trading Portfolio at the End of the Year