ACC 291 Week 3 Individual WileyPLUS Practice Ch 12 / Assignmentcloud.com

Question 1

ACC 291 Week 3 Individual WileyPLUS Practice Ch 12

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Question 1

Which of the following is not a primary reason why corporations invest in debt and equity securities?
They have excess cash.
They wish to move into a new line of business.
They are required to by law.
They wish to gain control of a competitor.

Question 2

Debt investments are initially recorded at:
     cost.
     cost plus accrued interest.
     fair value.
     None of the above.

Question 3

Hanes Company sells debt investments costing $26,000 for $28,000, plus accrued interest that has been recorded. In journalizing the sale, credits are to:
Stock Investments and Bond Interest Receivable.
No correct answer given.
Debt Investments, Gain on Sale of Debt Investments, and Bond Interest Receivable.
Debt Investments and Loss on Sale of Debt Investments.

Answer 1

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