Which of the following is true of trading investments?
A) They are held for more than two years.
B) They are generally recorded as long-term investments.
C) They must be adjusted and reported at fair value at the end of each accounting period.
D) They are always reported on the balance sheet at their historical cost.
C
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Which of the following statements is true regarding dividend income?
a. Dividend income is accrued at year-end. b. Dividend income is reported on the income statement. c. Dividend income appears in the stockholders' equity section of the balance sheet. d. Dividend income is recognized by companies that own debt securities.
On the right side of the accounting equation are two types of claims against resources. Explain what they are and give an example of an item that would increase each. Which type of claim has priority?
Some consumers use multiple types of media at the same time
Indicate whether the statement is true or false
Choose the correct word or words in parentheses. (Who's, Whose) notes will you use to study for the test?