Multiple Choice
In recognizing a decline in the market value of a trading investment, Loss on Fair value adjustment account is debited
A) because management intends to realize this loss in the near future.
B) to reflect the fair value of the investment on the balance sheet.
C) because the company is no longer a going concern.
D) because there is a permanent decline in the fair value.
Correct Answer:
Verified
Correct Answer:
Verified
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