At the end of the accounting period, the owners of debt securities:
A. Must record a gain or loss on the interest income earned.
B. Must retire the debt.
C. Must report the dividend income accrued on the debt securities.
D. Must record any interest earned on the debt securities during the period.
E. Must record a gain or loss on the dividend income earned.
Answer: D
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Explain the purpose of the PCAOB
Everything else the same, if the yield curve is downward sloping, what is the yield to maturity on a 10-year Treasury coupon bond, relative to that on a one-year Treasury bond (T-bond)?
A. The yield on the 10-year bond is less than the yield on a one-year bond. B. The yield on a 10-year bond will always be higher than the yield on a one-year bond because of maturity premiums. C. It is impossible to tell without knowing the coupon rates of the bonds. D. The yields on the two bonds are equal. E. It is impossible to tell without knowing the relative risks of the two bonds.
When making an accurate inference you should not let _____________ affect your conclusion.
a. the stated facts of the paragraph b. the implied main idea of the paragraph c. stereotypes and prejudices
Maria pays the following legal and accounting fees during the year:Legal fees in connection with ongoing operations of a trade or business$4,000Legal fees related to purchase of personal residence2,600Legal fees related to tax deficiency related to Schedule A itemized deductions500Tax return preparation fees: Allocable to preparation of Schedule C2,000Tax return preparation fees: Allocable to preparation of remainder of return2,100What is the total amount of her for AGI deduction for these fees?
A. $8,100 B. $11,200 C. $4,000 D. $6,000