At any given balance sheet date,the balance of the Realized Gain on Long-Term Investments account is equal in amount to the balance of the Allowance to Adjust Long-Term Investments to Market account.

Question

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The balance of the Realized Gain on Long-Term Investments account represents the cumulative amount of gains that have been realized from the sale of long-term investments. On the other hand, the Allowance to Adjust Long-Term Investments to Market account is used to adjust the balance of long-term investments to their fair market value. The balance in these two accounts can be different, as the realized gain account reflects gains that have already been realized, while the allowance account may reflect potential losses on investments that have not yet been sold. Therefore, the statement in the question is false.

At Any Given Balance Sheet Date,the Balance of the Realized