Altoona Wholesale Supply owns stock in Key Corporation. Altoona intends to hold the stock indefinitely because of

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Altoona Wholesale Supply owns stock in Key Corporation. Altoona intends to hold the stock indefinitely because of some negative tax consequences if sold. Should the investment in Key be classified as a short-term investment? Why or why not?

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Dec 27, 2011 09:02 AM

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Altoona Wholesale Supply owns stock in Key Corporation. Altoona intends to hold the stock indefinitely because of

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No The investment in Key Corporation stock is a longterm investm...View the full answer

Accounting Principles

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