U.S.GAAP and IFRS require firms to report trading securities at _____.

Question

Quizplus · Accepted Answer

Both U.S. GAAP and IFRS require firms to report trading securities at fair value on the balance sheet. This means that the securities are recorded at their current market value, and any changes in the value are reflected in the income statement. Net realizable value and present value are typically used for reporting other types of assets, such as inventory or long-term investments.

USGAAP and IFRS Require Firms to Report Trading Securities at _____