
Investment- Acc Principle 2

Quiz
•
English
•
University
•
Easy
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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