CFA Practice Question

There are 334 practice questions for this study session.

CFA Practice Question

Under U.S. GAAP, the unrealized gain (loss) at the date of transfer is recognized in income for transfers from:

I. available-for-sale to held-to-maturity.
II. held-to-maturity to available-for-sale.
III. available-for-sale to trading.
Correct Answer: III only

User Contributed Comments 3

User Comment
noonah Nothing recognized in net income for any transfers to held-to-maturity.
sjurrens II effects component of equity, not income
czar For l. The difference is amortized
For ll. The unrealized gains/losses go to Comprehensive Income
You need to log in first to add your comment.