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The Following Information Is Available for an Enterprise's Security Investments

Question 75

Multiple Choice

The following information is available for an enterprise's security investments as of December 31,2014:
The following information is available for an enterprise's security investments as of December 31,2014:    -In June 2015,the enterprise decided to reclassify the Flash bonds as securities available-for-sale.The bonds had a market value of $31,000 at the time of the reclassification. What amount of holding gain or loss is immediately recognized in 2015 earnings? A)  $2,000 gain B)  $3,000 gain C)  $1,000 gain D)  $1,000 loss
-In June 2015,the enterprise decided to reclassify the Flash bonds as securities available-for-sale.The bonds had a market value of $31,000 at the time of the reclassification. What amount of holding gain or loss is immediately recognized in 2015 earnings?


A) $2,000 gain
B) $3,000 gain
C) $1,000 gain
D) $1,000 loss

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