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Jeremiah Corporation Purchased Securities During 2013 and Classified Them as Securities

Question 78

Multiple Choice

Jeremiah Corporation purchased securities during 2013 and classified them as securities available for sale: Jeremiah Corporation purchased securities during 2013 and classified them as securities available for sale: All declines are considered to be temporary. How much gain will be reported by Jeremiah Corporation in the December 31, 2013, income statement relative to the portfolio? A) $0. B) $16,000. C) $20,000. D) None of the above is correct. All declines are considered to be temporary. How much gain will be reported by Jeremiah Corporation in the December 31, 2013, income statement relative to the portfolio?


A) $0.
B) $16,000.
C) $20,000.
D) None of the above is correct.

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