If you anticipatea dramatic decline in stock prices, which naked strategy will make you the most profit?
A. long call
B. long put
C. short call
D. short put
C. short call
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Which of the following is an input method for recognizing revenue over time?
A) results-achieved method B) ?units-produced method C) ?milestones-reached method D) ?efforts-expended method
Ted Catering received $1040 cash in advance from a customer for catering services to be provided in three months. Determine the general journal entry that Ted Catering will make to record the cash receipt. Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.
A.
| Accounts Receivable | 1040? | |
| Catering Revenue | 1040? |
B.
| Cash | 1040? | |
| Unearned Catering Revenue | 1040? |
C.
| Cash | 1040? | |
| Catering Revenue | 1040? |
D.
| Unearned Catering Revenue | 1040? | |
| Catering Revenue | 1040? |
E.
| Cash | 1040? | |
| Accounts Receivable | 1040? |
Which of the following descriptions would not fit the definition of a liability?
a. Obligation to deliver services already paid for b. Result of past transaction c. Future obligation for future salary payments d. Present obligation for future payment
Operating income is determined by deducting all fixed costs related to production, selling, and administration from contribution margin
Indicate whether the statement is true or false