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ampa City began the year with a security that has a historical cost of $85...

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Accounting

ampa City began the year with a security that has a historical cost of $85 and a fair value at the beginning of the year of $95. At the end of the year the security had a fair value of $100. The amount that should be recognized on the fund financial statements for the year as investment income is

Select one:

a. Gain $15.

b. Gain $5.

c. The answer is not provided

d. Gain $20.

e. $-0-.

Clear my choice

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