Under the provisions of FASB ASC Topic 825 (Financial Instruments) ,
A) the election of the fair value option for investment securities classified as available-for-sale securities would result in unrealized gains and losses on these securities being included in other comprehensive income.
B) the election of the fair value option for investment securities classified as trading securities would result in unrealized gains and losses on these securities being included in other comprehensive income.
C) the election of the fair value option for investment securities classified as held-to-maturity securities would result in unrealized gains and losses on these securities being included in earnings in the income statement.
D) the election of the fair value option for investment securities currently classified as trading,available-for-sale,or held-to-maturity is not available and can only be applied to new securities that an entity purchases.
Correct Answer:
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