All of the following statements about financial statement gains and losses on investments are true except
A) the account "Fair Value Adjustment - Available-For-Sale" is reported on the balance sheet.
B) unrealized losses on trading securities are reported on the income statement.
C) unrealized losses on available-for-sale securities are reported on the income statement.
D) the account "Fair Value Adjustment - Trading" is reported on the balance sheet.
Correct Answer:
Verified
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