6) Bonds that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as: A) Securities available for sale. B) Consolidating securities. C) Held-to-maturity securities. D) Trading securities. I 7) For an investment classified as held-to-maturity, any unrealized gains and losses are both reported in the financial statements and also disclosed in the notes to the financial statements. A) True B) False 8) When a debt security is appropriately carried and reported as securities available for sale, a gain should be reported in the income statement: A) When the fair value of the security increases. B) When the present value of the security increases. C) Only when the Dow Jones Industrial Average increases at least 100 points. D) Only when the security is sold.

6) Bonds that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as: A) Securitics available for salc, B) Consolidating socuritics. C) Held-to-maturity securities. D) Trading securities. 7) For an investment classified as beld-to-maturity, any unrealized gains and losses are both reported in the financial statements and also disclosed in the notes to the financial statements. A) Trae B) False 8) When a debe security is appropriately carried and reported as securities available for sale, a gain sbould be reported in the income statement: A) When the fair value of the security inereases. B) When the present value of the security increases. C) Only when the Dow Jones Industrial Average increases at least 100 points. D) Only when the security is sold. 6) Bonds that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as: A) Securitics available for salc, B) Consolidating socuritics. C) Held-to-maturity securities. D) Trading securities. 7) For an investment classified as beld-to-maturity, any unrealized gains and losses are both reported in the financial statements and also disclosed in the notes to the financial statements. A) Trae B) False 8) When a debe security is appropriately carried and reported as securities available for sale, a gain sbould be reported in the income statement: A) When the fair value of the security inereases. B) When the present value of the security increases. C) Only when the Dow Jones Industrial Average increases at least 100 points. D) Only when the security is sold