Multiple Choice
Which of the following is true regarding accounting for investments by state and local governmental units?
A) Investments in all securities with determinable fair values (including bonds held to maturity) are to be reported at fair value.
B) Realized gains and losses are to be reported separately from unrealized gains and losses in the Statement of Changes in Fiduciary Net Assets.
C) Both of the above.
D) Neither A nor B above.
Correct Answer:
Verified
Correct Answer:
Verified
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