If an investor does not respond to a margin call, the broker will
A) sell enough of the investor's holdings that the margin account can be closed.
B) sell some of the investor's holdings to cover the margin call.
C) notify the Federal Reserve so they can cover the call.
D) sell all of the investor's holdings and close their brokerage account.
Answer: B
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The internal control that requires that "checks are pre-numbered and accounted for" satisfies which assertion?
a. Accuracy. b. Existence. c. Completeness. d. Posting and summarization.
Why are underlying principles important?
What will be an ideal response?
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units:Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.Units started and completed: 110,000.Units completed and transferred out: 135,000.Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs:Costs in beginning Work in Process - Direct Materials: $43,000.Costs in beginning Work in Process - Conversion: $48,850.Costs incurred in February - Direct Materials: $287,000.Costs incurred in February - Conversion: $599,150. Calculate the equivalent units of materials.
A. 130,250 B. 144,000 C. 140,000 D. 110,000 E. 165,000
The U.S. Court of Appeals for the Federal Circuit reviews decisions of the Merit Systems Protection Board, the Patent and Trademark Office, and the U.S. Court of Veterans Appeals
a. True b. False Indicate whether the statement is true or false