Black Corporation bought the following securities during the current year:
Security
Cost
Fair Value
Alpha Co.
$90,000
$95,000
Beta Co.
$70,000
$65,000
Delta Co.
$30,000
$34,000
Refer to Black Corporation:
Assume that these securities are trading securities. How will these securities be classified on the balance sheet at December 31 of the current year?
A)
Amount
Classification
$190,000
Current Asset
B)
Amount
Classification
$194,000
Current Asset
C)
Amount
Classification
$190,000
Noncurrent Asset
D)
Amount
Classification
$194,000
Noncurrent Asset
Answer: B
You might also like to view...
Feeling panicked by the text message from her landlord, Jody simply picks up her cell phone and sends a brief message to her landlord, indicating her intention to pay within five days
She writes, "Can get the $750 in five days, parents will help." Jody's boss observed her sending the text message, and gave her a stern look. Later that day the boss reprimands Jody for displaying unprofessional conduct. In response, Jody is best advised to do the following: A) State that the message was urgent, but she agrees that she displayed poor interpersonal skill by responding immediately. B) Explain to her boss that she is good at multitasking, and therefore did not miss out on what was going on in the meeting. C) Explain to her boss that he is somewhat out of touch with the modern world of immediate communication. D) Point out to her boss that there is no formal organizational policy that prohibits responding to phone calls during a meeting.
A plan that keeps the business running after a disaster occurs best defines
A) security audit specifications. B) business continuity plan. C) vulnerability assessment plan. D) project initiation plan.