Available-for-sale securities are recorded at cost, which equals fair value on the acquisition date
Indicate whether the statement is true or false
True
You might also like to view...
The objective of the basic EOQ model is to ________
Fill in the blank with correct word.
A company's pension plan promises employees a specific amount of income when they retire. However, the plan does not have the assets to meet these future obligations to employees. This plan represents a defined-________ plan that is ________
A) benefit; underfunded B) benefit; overfunded C) contribution; underfunded D) contribution; overfunded
Perfection. Richard E. Walker, Kelly E. Walker, and Kenneth W. Walker were partners in the Walker Brothers Dairy, a general partnership located in Florida. The Walkers purchased a "Model 2955 utility tractor, a round bale saw, and a feed mixer box" from
the John Deere Company. John Deere took a security interest in the equipment. The security agreement stated that the debtor was a partnership known as "Walker Brothers Dairy." John Deere filed a financing statement, however, that listed the debtors as "Richard Walker, Kelly Walker, and Kenneth Wendell Walker." The statement was signed by each of the three partners. Their signatures were followed by a typewritten statement indicating that the partners were doing business as "Walker Brothers Dairy." When Walker Brothers Dairy voluntarily filed for bankruptcy, John Deere sought to repossess the equipment. The issue before the court was whether the financing statement, which listed the partners as debtors rather than the partnership, was sufficient to perfect John Deere's security interest in the partnership equipment. What should the court decide? Discuss.
When a contract falls within the Statute of Frauds but is not in writing, the contract is
A. illegal. B. unenforceable. C. void. D. voidable.