Nola has a portfolio of marketable equity securities that it does not intend to sell in the near term. How should Nola classify these securities, and how should it report unrealized gains and losses from these securities?
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Classify as |
Report as a |
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a. |
Trading securities |
Component of income from continuing operations |
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b. |
Available-for-sale securities |
Separate component of other comprehensive income |
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c. |
Trading securities |
Separate component of other comprehensive income |
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d. |
Available-for-sale securities |
Component of income from continuing operations |