Which of the following types of investments is best for money you may need in an emergency?
A) individual stocks
B) corporate bonds
C) money markets
D) real estate
E) government bonds
C
Explanation: C) Money markets are the ideal place for money you could need for an unexpected expense or for losing your job. The money is safe from significant loss and you can get it quickly and easily.
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Andy keeps his savings in a certificate of deposit at a bank, Ben keeps his savings invested in U.S. savings bonds, Beth keeps her savings in the form of liquid cash in her vault, and Charlie uses his to buy stock through an initial public offering (IPO). Given this information, who among the following individuals is using indirect finance?
A. Andy B. Ben C. Charlie D. Beth
Which of the following is not an inherent risk associated with inventory?
a. Inventory accounts typically have a high volume of activity. b. Inventory is easily transportable c. Inventory may become obsolete. d. Inventory costing methods frequently change from one year to the next.
The list of account names and reference numbers that the company will use when accounting for transactions is called the chart of accounts.
Answer the following statement true (T) or false (F)
Which of the following is a characteristic of a professional corporation?
A) It is organized as a public corporation but taxed as a partnership. B) Its owners cannot take the tax advantages of deductions for health. C) Its owners are considered limited partners rather than general partners. D) Its owners do not enjoy limited liability for their negligence.