Cummins Corp. reports its annual financial results on June 30 each year. Cummins Corp. purchased 1,000 shares

Question:

Cummins Corp. reports its annual financial results on June 30 each year. Cummins Corp. purchased 1,000 shares in each of three companies. Classify each investment as a short term or long-term investment.
a. Investment to be sold within the next 9 to 12 months.
b. Investment to be sold within the next 90 days.
c. Investment to be sold within the next two years.