Unrealized Loss-Equity and Unrealized Gain-Equity are permanent equity accounts.

Name: Unrealized Loss-Equity and Unrealized Gain-Equity are permanent equity accounts.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both Unrealized Loss-Equity and Unrealized Gain-Equity are permanent equity accounts as they are used to record the changes in the fair value of certain assets and liabilities. The balances in these accounts are carried forward until the related assets or liabilities are realized or settled.

Unrealized Loss-Equity and Unrealized Gain-Equity Are Permanent Equity Accounts