Uganda Corporation uses the fair value model of accounting for its investment property.The fair values of its property were: December 31, 2017, $225,000 and December 31, 2018, $233,000.At December 31, 2018 Uganda should
A) recognize a gain of $8,000 in income.
B) report a gain of $8,000 in other comprehensive income.
C) defer the gain until the property is sold.
D) do nothing (ignore it) .
Correct Answer:
Verified
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