Question: This set of questions has a matching format. Select from the option list provided the appropriate category for each item below. Each choice may be

This set of questions has a matching format. Select from the option list provided the appropriate category for each item below. Each choice may be used once, more than once, or not at all. Explanation Answer

1. Holding gains or losses are not recognized.

2. Holding gains or losses are recognized in earnings.

3. Holding gains or losses are recognized in a separate component of equity.

4. Common examples are Treasury bills and money market funds.

5. Assets set aside to retire long-term debt.

6. The customary medium of exchange and unit of measurement

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