An unrealized gain or loss on trading securities TRUE AND FALSE 1. Consolidated financial statements should be prepared only when a subsidiary company has a controlling interest in the parent company. 2. financial statements are prepared in place of the financial statements is similar to the procedures followed for trading securities, except that changes in fair value are not recognized in current income. 3. An unrealized gain or loss on trading securities is reported as a separate component of stockholders’ equity. 4. For non-trading securities, the unrealized gain or loss account is carried forward to future periods. 5. A decline in the fair value of a trading security is recorded by debiting an unrealized loss account and crediting the Fair value Adjustment account. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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