Harper and Associates purchased securities five years ago. Harper classified the securities as available-for-sale at the time of purchase. Now, Harper desires to reclassify the securities to trading securities. Is it appropriate for Harper and Associates reclassifying these securities? What justification is required for the reclassification?

Answer rating: 100% (QA)

Explanation Yes Harper and associates can reclassify the securities into trading secur... View the full answer