CFA Practice Question

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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
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