Question

A debt security is transferred from one category to another. Generally acceptable accounting principles require that for this particular reclassification (1) the security be transferred at fair value at the date of transfer, and (2) the unrealized gain or loss at the date of transfer currently carried as a separate component of stockholders' equity be amortized over the remaining life of the security. What type of transfer is being described

Answer 1

Answer:

(d) The unrealized gain or loss at the date of transfer carried as a separate component of stockholders' ... A debt security is transferred from one category to another. Generally accepted accounting principles require that for this pa

Explanation: