Which of the following statements regarding trading debt securities is false?
A) If a trading debt security is purchased at a premium, the premium must be amortized on a periodic basis.
B) Fair value adjustments are treated as adjustments to net income.
C) If the fair value of trading debt securities is less than the historical cost the fait value adjustment account will have a credit balance.
D) Fair value adjustments are treated as as adjustments to other comprehensive income.
Answer: D
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You know you are showing the right degree of assertiveness when others are equally open, direct, and forceful with you
Indicate whether the statement is true or false