U.S. Government Treasury bonds provide low return and low risk to investors.
Answer the following statement true (T) or false (F)
True
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After the disastrous oil spill in the gulf, many consumers decided to avoid BP products, many even joining a popular “Boycott BP” Facebook page. Stuart runs an independent BP gas station in Louisiana and his business suffered from this consumer response. In this instance, boycotters would be considered a ______, part of the gas station’s ______ environment.
a. special-interest group; task b. local community; task c. demographic force; general d. sociocultural force; task e. local community; general
When a firm changed its method of accounting for inventory from LIFO to FIFO in 2014, it decided that the 2014 financial statements should be shown comparatively with the 2013 results. Which of the following statements concerning reporting the change in the retained earnings statement is correct?
a. Both the January 1 . 2013 . and January 1 . 2014, retained earnings balances are reported at different amounts to reflect the effects of the change in earnings before those respective dates. b. Only the January 1 . 2013 . retained earnings balance is reported at a different amount to reflect the effects of the change in earnings. c. Only the January 1 . 2014, retained earnings balance is reported at a different amount to reflect the effects of the change in earnings. d. No direct change to retained earnings is needed since earnings for both years have been adjusted to reflect the change.
Which of the following items appears in the balance sheet at amortized acquisition cost?
a. debt securities held to maturity b. trading securities c. available-for-sale securities d. derivatives e. securities available for liquidation
Magnum Corporation had 60,000 of its $3 par common stock issued before its recent 3-for-1 stock split. The market price of the stock was $30 per share before the split. Which of the following is true as a result of the split?
A) There were 20,000 shares of common stock issued after the split. B) The balance in the common stock account increased to $180,000. C) The market price of the stock was not affected. D) The par value of the stock decreased to $1 per share.