N4 Trading securities are:O reported at fair value on the balance sheet and as unrealized gains or losses on theincome statement.not reported on the balance sheet.O reported at fair value in the balance sheet.O reported as unrealized gains or losses on the income statement.Question 26Changes in the value of available-for-sale securities are:O not recognized.O reported as part of stockholders' equity.O recognized on the income statement.O recognized on the income statement and as part of stockholders' equity.

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Trading securities are: O reported at fair value on the balance sheet and as unrealized gains or losses on the income statement. O not reported on the balance sheet. O reported at fair value in the balance sheet. O reported as unrealized gains or losses on the income statement.

Trading securities are: O reported at fair value on the balance sheet and as unrealized gains or losses on the income statement. O not reported on the balance sheet. O reported at fair value in the balance sheet. O reported as unrealized gains or losses on the income statement.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 28RQSC

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Question

Trading securities are:
O reported at fair value on the balance sheet and as unrealized gains or losses on the
income statement.
not reported on the balance sheet.
O reported at fair value in the balance sheet.
O reported as unrealized gains or losses on the income statement.
Question 26
Changes in the value of available-for-sale securities are:
O not recognized.
O reported as part of stockholders' equity.
O recognized on the income statement.
O recognized on the income statement and as part of stockholders' equity.

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