At the beginning of the year a company had a debit balance in the account Market Adjustment--Trading Securities.During the year the company did not buy or sell any trading securities,but at the end of the year the related market adjustment account had a credit balance.This change indicates that
A) a loss on the income statement was recognized.
B) a gain on the income statement was recognized.
C) the value of the investment account increased.
D) the value of the investment account decreased.
Correct Answer:
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Q1: From the following,select the most appropriate basis
Q2: FASB Statement No.115 generally applies when the
Q3: If the combined market value of trading
Q5: If the combined market value of available-for-sale
Q6: Which of the following is true?
A) Trading
Q7: A credit balance in the account Market
Q8: The equity method of accounting for an
Q9: When an investor uses the equity method
Q10: Changes in fair value of securities are
Q11: Consolidated financial statements are typically prepared when
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