If a company chooses to report its assets using the fair value option they must report any unrealized gains or losses resulting from changes in fair value on its balance sheet.

Name: If a company chooses to report its assets using the fair value option they must report any unrealized gains or losses resulting from changes in fair value on its balance sheet.
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Question

Quizplus · Accepted Answer

Unrealized gains or losses from changes in fair value are typically reported on the income statement, not the balance sheet.

If a Company Chooses to Report Its Assets Using the Fair