Unrealized gains and losses from the revaluation of certain types of investments to fair value would be reported on
A)the income statement.
B)the statement of financial position.
C)the statement of changes in shareholders' equity.
D)the comprehensive income statement.

Question

Quizplus · Accepted Answer

Unrealized gains and losses from the revaluation of investments to fair value are reported on the comprehensive income statement, which is a statement that includes all changes in equity during a period from both net income and other comprehensive income. The income statement only includes realized gains and losses, while the statement of financial position and the statement of changes in shareholders' equity does not report unrealized gains and losses.

Unrealized Gains and Losses from the Revaluation of Certain Types