The Unrealized Holding Gain/Loss-Trading Securities account is a temporary account that would be closed to
Retained Earnings during the closing process.

Name: The Unrealized Holding Gain/Loss-Trading Securities account is a temporary account that would be closed to Retained Earnings during the closing process.
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Question

Quizplus · Accepted Answer

Unrealized holding gains or losses on trading securities are recognized in earnings and therefore, they are closed to Retained Earnings during the closing process.

The Unrealized Holding Gain/Loss-Trading Securities Account Is a Temporary Account