On its 2016 form 10-K, Bank of America Corporation reports marketable debt securities of $277,399 million....
On its 2016 form 10-K, Bank of America Corporation reports
marketable debt securities of $277,399 million. The footnotes
disclose that these securities have an amortized cost of $279,307
million.
Which of the following is true?
| A. |
These are available-for-sale securities. |
|
| B. |
These are trading securities. |
|
| C. |
There are net unrealized losses of $1,908 million on these securities. |
|
| D. |
Both A and C |
|
| E. |
Both B and C |
Homework Answers
C.There are net unrealised losses of $1,908 million on these securities.
| reported value | 277,399 |
| less;amortised cost | (279,307) |
| net unrealised losses | (1,908) |
It can be said from the information provided whether the securities are available for sale or trading securities.
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On its 2016 form 10-K, Bank of America Corporation reports
marketable debt securities of $277,399 million....
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