For each of the following journal entries, describe the event or adjustment that would have prompted the entry. The first has been completed for you as an example.
What will be an ideal response?
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Andy keeps his savings in a certificate of deposit at a bank, Ben keeps his savings invested in U.S. savings bonds, Beth keeps her savings in the form of liquid cash in her vault, and Charlie uses his to buy stock through an initial public offering (IPO). Given this information, who among the following individuals is using indirect finance?
A. Andy B. Ben C. Charlie D. Beth
The representation of the self that comes to us from others is known as the ______.
A. mirror image B. looking glass self C. self-image D. perceived image
A unit investment trust differs from a mutual fund in that
A) it offers a combination of debt and equity securities in the unit. B) its originator guarantees a redemption price. C) its original portfolio is generally unchanged until the trust is dissolved. D) it requires considerably greater portfolio management.
General partners in a limited partnership:
a. have no liability b. have limited liability c. are personally liable to the partnership's creditors d. are personally liable to the secretary of state e. are personally liable to the partnership's creditors only if they choose to be