QUESTION 7 Unrealized holding gains and losses are recognized in net income for available-for-sale debt securities. True False QUESTION 8 Equity security holdings between 20 and 50 percent indicates that the investor has a controlling interest over the investee, True False QUESTION 9 The key objective for revenue recognition is "recognize revenue to depict the transfer of goods and services to customers in an amount the reflects the consideration that the company receives, or expects to receive, in exchange for these goods or services'. True False