Multiple Choice
Which of the following is true regarding the investments of private colleges in securities with determinable fair values?
A) Investments are to be carried at fair value or amortized cost, depending upon whether the investments are in equity or debt securities.
B) Investments are to be carried at fair value; unrealized gains and losses are to be reported in the Statement of Activities along with realized gains and losses.
C) Investments are to be carried at the lower of cost or market with unrealized losses reported in the Statement of Activities along with realized gains and losses.
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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