Which of the following is not true about the accounting for Trading Investments?
A)They are reported as current assets on the statement of financial position.
B)Realized gains and losses are reported on the statement of income.
C)They are valued at fair value.
D)Unrealized gains and losses are reported on the statement of comprehensive income.

Question

Quizplus · Accepted Answer

Trading investments are reported at fair value with unrealized gains and losses included in the income statement, not the statement of comprehensive income. This contrasts with available-for-sale securities, where unrealized gains and losses are typically reported in other comprehensive income.

Which of the Following Is Not True About the Accounting