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How are transfers between portfolios (i.e. from trading to available-for-sale) accounted for? A. Transfers between portfolios are not allowed under U.S. GAAP. B. Transfers between

How are transfers between portfolios (i.e. from trading to available-for-sale) accounted for?

A. Transfers between portfolios are not allowed under U.S. GAAP.

B. Transfers between portfolios are accounted for at fair value on the date of the transfer.

C. Transfers between portfolios are accounted for based on the initial cost of the investment.

D. Transfers between portfolios are accounted for based on the most recently reported fair value of the investments.

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