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  3. which of the following statements about trading de

Which of the following statements about trading debt securities is correct? A portfolio of trading...

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Accounting

Which of the following statements about trading debt securities is correct?
A portfolio of trading debt securities can either be reported at fair value or amortized cost.
If the fair value of the portfolio at the end of the period is greater than its amortized cost, the Fair Value Adjustment account will have a debit balance equal to the difference.
Any end-of-period adjustment for the difference between the amortized cost and fair value of the portfolio is reported as Other Comprehensive Income.
Amortization of premium or discount on trading debt securities is not required because the securities are purchased with the intention of selling them in a short period of time.
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