Business, 25.03.2020 02:32, moneybaggtjuan

All of the following are true of the effect of fair value accounting on the financial statements except a. changes in the fair value of trading securities are recognized on the income statement b. any difference between the original cost or the prior period's fair value must be recorded c. changes in the fair value of available-for-sale securities are recognized on the income statement d. valuation allowance accounts are reported on the balance sheet

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All of the following are true of the effect of fair value accounting on the financial statements exc...