Standards that reflect what is expected to occur are referred to as ______________________________

On its December 31, 2017, balance sheet, Estes Co. reported its investment in trading debt securities, which had cost $500,000, at fair value of $475,000. At December 31, 2018, the fair value of the securities was $492,500. What should Estes report on its 2018 income statement as a result of the increase in fair value of the investments in 2018?

(a) $0 (b) Unrealized loss of $7,500 (c) Realized gain of $17,500 (d) Unrealized gain of $17,500

If a buyer and seller negotiate a sale of real property where the buyer takes title subject to the seller's existing loan, and the sale is made without the knowledge or consent of the lender, the parties should be advised that:

A: The loan may be accelerated if the lender learns about the sale; B: The sale might not be completed if the loan is called and the buyer is unable to secure alternative financing; C: The seller retains personal liability for the loan and any potential deficiency; D: All of the above.