Which of the following is true of a secondary market?
A) It is a market for an unlisted company to raise equity capital.
B) It is a market where securities are issued through private placement
C) It is a market in which short-term money market instruments such as Treasury bills are traded.
D) It is a market in which preowned securities are traded.
D
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When perpetual inventory records are kept, the merchandise inventory account in the general ledger is usually a control account
a. True b. False Indicate whether the statement is true or false
Frank Corporation purchased supplies at a cost of $15,000 during 2016 . At January 1, 2016, supplies on hand were $2,000 . At December 31, 2016, supplies on hand are $2,500 . Calculate supplies expense for 2016
a. $ 15,500 b. $ 14,500 c. $ 15,000 d. $ 17,000
The amount initially paid to acquire an asset is called ______________________________
Fill in the blank(s) with correct word
Bravada Enterprises Transactions for Bravada Enterprises are provided below. Sept. 1 Bills are sent to clients for services provided in August for the amount of $2,200. Sept. 9 Barlue Furnishings delivers $1,500 of office furniture and $500 of office supplies to Bravada, leaving an invoice for $2,000. Sept. 15 Payment is made to Barlue for the office furniture and supplies delivered on September
9. Sept. 23 A $630 bill for advertising for the month of September is received. It will be paid on its due date in October. Sept. 30 Salaries of $450 are paid to employees. Refer to the transactions that occurred at Bravada Enterprises. The journal entry to record the September 30th transaction will include a credit to: A) Salaries expense. B) Salaries payable. C) Prepaid salaries. D) Cash.