Investments by private not-for-profit organizations in equity securities should be carried at:
A. Fair Market Value.
B. Lower of cost or Market.
C. Historical cost.
D. None of the above.
Answer: A
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If a company purchases treasury stock for $10,000 and then reissues it for $3,000, the difference of $7,000 is
a. treated as a gain on the sale. b. treated as a loss on the sale. c. an increase in stockholders' equity. d. a decrease in stockholders' equity.
If the estimated cost driver level is overstated, the
a. predetermined overhead rate will be understated. b. predetermined overhead rate will be overstated. c. product cost will be overstated. d. cost pool will be understated.
________ is the violation of a statute that proximately causes an injury.
A. Disparagement B. Res ipsa loquitur C. Negligence per se D. Misappropriation
An ethical scandal leading to the loss of billions of dollars and the loss of thousands of jobs attracts the attention of the public for what reason?
A. temporal immediacy B. social consensus C. proximity D. magnitude of consequences