What is the fundamental value of a put contract with a strike price of $25 when the option price is $1.50 and the underlying common stock sells for $26?

Which of the following is true of trading investments?

A) They are held for more than two years. B) They are generally recorded as long-term investments. C) They must be adjusted and reported at fair value at the end of each accounting period. D) They are always reported on the balance sheet at their historical cost.

Which of the following is the last step of making an ethical decision?

A) consulting your superiors if you still need clarification B) following your own conscience and moral code C) consulting the company's code of ethics and established norms D) weighing stakeholders' rights