On a partner's personal statement of changes in net worth,what type(s)of income is (are)recognized?
I.Realized
II.Unrealized

Question

Quizplus · Accepted Answer

Both realized and unrealized income are recognized on a partner's personal statement of changes in net worth. Realized income refers to income that has already been earned and received, while unrealized income refers to income that has been earned but not yet received or realized in cash. Both types of income can impact a partner's overall net worth and therefore should be included on the statement.

On a Partner's Personal Statement of Changes in Net Worth,what