Investment- Acc Principle 2

Investment- Acc Principle 2

University

36 Qs

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Investment- Acc Principle 2

Investment- Acc Principle 2

Assessment

Quiz

English

University

Easy

Created by

Anton Kacaribu

Used 1+ times

FREE Resource

36 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Short-term investments are

a.   (1) readily marketable and (2) intended to be converted into cash after the current year or operating cycle, whichever is shorter.

b.   (1) readily marketable and (2) intended to be converted into cash within the current year or operating cycle, whichever is longer.

c.   (1) readily marketable and (2) intended to be converted into cash after the current year or operating cycle, whichever is longer.

d.   (1) readily marketable and (2) intended to be converted into cash within the current year or operating cycle, whichever is shorter.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Securities bought and held primarily for sale in the near term to generate income on short-term price differences are

a.   trading securities.

b.   available-for-sale securities.

c.   never-sell securities.

d.   held-to-maturity securities.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would not be classified as a short-term investment?

a.   Short-term commercial paper

b.   Idle cash in a bank checking account

c.   Marketable stock securities

d.   Marketable debt securities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Short-term investments are securities that are readily marketable and intended to be converted into cash within the next

a.   year.

b.         two years

c.   year or operating cycle, whichever is shorter.

d.   year or operating cycle, whichever is longer.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following would not be classified as a short-term investment?

a.         Marketable stock securities

b.   Equity method investments

c.   Marketable debt securities

d.   Short-term paper

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Available-for-sale securities are classified as

a.   short-term investments only.

b.   long-term investments only.

c.   either short-term or long-term investments.

d.   current assets only.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

At December 31, 2020, DeCore Inc. has these data on its security investments:

 

                        Security                           Cost                        Fair Value 12/31/20

                        Trading                        $ 140,000                           $190,000

                        Available-for-sale          137,000                             122,000

 

            If the available-for-sale securities are held as long-term investments, which of the following will be recorded to adjust the securities to fair value?

a.         Db)Securities..         35,000

                                Cr)Unrealized Gain-Income.                                  35,000

b.         Db)Unrealized Loss-Income      15,000

                        Db)Securities.         35,000

           Cr) Unrealized Gain-Income  50,000

c.       Db)  Fair Value Adjustment-Trading 50,000

                                Cr) Unrealized Gain¾Income 50,000

                        Db)Unrealized Gain or Loss-Equity 15,000

                               Cr) Fair Value Adjustment-Available-for-Sale. 15,000

d.         Db) Unrealized Gain¾Income 50,000

                                Cr) Fair Value Adjustment-Trading 50,000

                        Db) Fair Value Adjustment-Available for Sale         15,000

                                Cr) Unrealized Gain or Loss-Equity 15,000

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