If a company elects the fair value option for long-term liabilities, can it report unrealized gains and

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If a company elects the fair value option for long-term liabilities, can it report unrealized gains and losses in other comprehensive income? Explain.

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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Question Posted: Jul 19, 2016 05:50 AM

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If a company elects the fair value option for long-term liabilities, can it report unrealized gains and

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No a company can select the fair value option only at the inception ...View the full answer

Intermediate Accounting

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