Question: Collier Co . owns a bond it classifies as an available - for - sale security. When should a gain or loss from this security

Collier Co. owns a bondit classifies as an available-for-sale security.When should a gain or loss from this securitybe reported on the income statement?
Multiple Choice
When a company purchases more shares of that security
When the fair value of the security increases.
When the present value of the security increases.
Only when the security is sold.

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