Under current GAAP unrealized gains and losses from four balance sheet items are reported in accumulated other comprehensive income or loss. Which of the following is not one of the balance sheet items?
A) Derivatives held as cash flow hedges.
B) Deferred tax assets related to net operating loss carryforwards.
C) Minimum pension obligations.
D) Investment securities classified as available for sale.

Question

Quizplus · Accepted Answer

Under GAAP, unrealized gains and losses from derivatives held as cash flow hedges, investment securities classified as available for sale, and minimum pension obligations are reported in accumulated other comprehensive income or loss. However, deferred tax assets related to net operating loss carryforwards are not a balance sheet item, and therefore, unrealized gains and losses related to them are not reported in accumulated other comprehensive income or loss.

Under Current GAAP Unrealized Gains and Losses from Four Balance