Question
Which of the following statements about accounting for available-for-sale (AFS) securities is inaccurate? Group of answer choices a. AFS securities are reported at fair value.
Which of the following statements about accounting for available-for-sale (AFS) securities is inaccurate?
Group of answer choices
a. AFS securities are reported at fair value.
b. Unrealized gains or losses on AFS securities are recognized in other comprehensive income
c. Net income is not impacted by AFS securities activity until the security is sold.
d. Companies are required to disclose the amount of unrealized gains or losses for AFS securities included in accumulated other comprehensive income during the year(s) being reported and the amount of gains or losses that were reported in the income statement.
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