If the Fair Value Adjustment - Trading account for trading debt investments has a debit balance, it is ________.
A) considered to be a contra account
B) subtracted from the Trading Debt Investment account to determine carrying value
C) added to the Trading Debt Investment account to determine carrying value
D) reported in the other income and expenses section of the income statement
C) added to the Trading Debt Investment account to determine carrying value
You might also like to view...
How do computers help international selling organizations operate smoothly?
A. By permitting salespeople to forego their usual sales reports B. By reducing communication barriers between the field and the home office C. By eliminating the need for videoconferencing D. By reducing the need for salespeople E. By doing all of these
Nonprofit marketers can reach young people and upscale markets through custom tailored behavior interventions in a social networkng Web site community such as:
a. Netflix b. MySpace c. Yahoo d. Hungryredplanet e. Twitter
What is encapsulation?
What will be an ideal response?
The balance column in a ledger account is:
A) An account entered on the balance sheet. B) A column for showing the balance of the account after each entry is posted. C) Another name for the dividends account. D) An account used to record the transfers of assets from a business to its owner(s). E) A simple form of account that is widely used in accounting to illustrate the debits and credits required in recording a transaction.