The provisions of U.S. GAAP require firms to classify marketable securities into the following categories except
a. debt securities held to maturity for which a firm has both the intent and the ability to hold to maturity—shown on the balance sheet at an amount based on acquisition cost, but subject to impairment.
b. debt and equity securities held as trading securities shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income.
c. debt and equity securities held as securities available-for-sale shown on the balance sheet at fair value, with unrealized changes in fair value of securities held at the end of the accounting period included in other comprehensive income, and realized changes in fair value included in net income when a firm sells the securities.
d. debt and equity securities held as securities available-for-sale shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income.
e. none of the above
D
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Disclosure usually is NOT required for
a. contingent gains that are probable and can be reasonably estimated. b. contingent losses that are reasonable possible and cannot be reasonably estimated. c. contingent gains that are reasonably possible and cannot be reasonably estimated. d. contingent losses that are remote and can be reasonably estimated
If there are four jars on the shelf when an order is placed, how much should the store order?
The daily sales of a peanut butter at Power's Grocery are normally distributed, with a mean of 12 jars and a standard deviation of 4. The manager checks the inventories on shelves and places an order every three days. Delivery lead time is two days.
A cashier's check is written by a bank and drawn against the bank when paid
Indicate whether the statement is true or false
Public warehouses are business organizations whose primary activity is providing storage and related physical distribution facilities on a rental basis to government organizations.
Answer the following statement true (T) or false (F)