Assume that you purchase 100 shares of Jiffy, Inc. common stock at the bid-ask prices of $32.00 - $32.50. When you sell the bid-ask prices are $32.50 - $33.00. If you pay a commission rate of 0.5%, what is your profit or loss?
A)
$0
B)
$16.25 loss
C)
$32.50 gain
D)
$32.50 loss
Answer:
D
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As a general rule, revenue is recognized at the point of sale. Which one of the following situations illustrates this rule?
a. Products are sold to customers on credit with payment due in 30 days. b. Employees are paid wages the week after the wages are earned. c. Products are purchased for resale purposes. d. Interest is collected from amounts loaned to employees.
All of the following are examples of internal control procedures except:
A. Customer satisfaction surveys. B. Insistence that employees take vacations. C. Using pre-numbered documents. D. Reconciling the bank statement.
Whether a cost behaves as a fixed cost or as a variable cost depends upon the:
A. significance of the dollar amount of the cost. B. cost structure of the company. C. activity base used. D. industry
Because we value loyal customers like you, we have enclosed a coupon for $20 for your next meal at The Cheesecake Factory is an effective closing statement for a negative-news message
Indicate whether the statement is true or false