At any given balance sheet date,the balance of the Unrealized 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

Quizplus · Accepted Answer

This is because the Unrealized Gain on Long-Term Investments account represents the total amount of unrealized gains on long-term investments, while the Allowance to Adjust Long-Term Investments to Market account represents the amount needed to adjust the long-term investments to their current market value. These two accounts are opposite sides of the same coin and will always have equal balances.

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