4. Listed below are five terms followed by a list of phrases that describe or characterize...
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4. Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the number for the correct term to indicate the way each of the investments usually should be accounted for under U.S. GAAP based on the information provided. (5 pts) TERM PHRASE NUMBER a. Treasury bonds held for their entire life. 1. None of the these choices apply 2. Trading Securities b. Accounts Receivable. c. Treasury bonds held for short-term profit. 3. Consolidation 4. Securities Held-to-Maturity 5. Equity Method d. Corporate bonds held for immediate resale. e. 40% of the voting common stock of XYZ Company. I f. 85% of the voting common stock of ABC Corporation. g. 25% of the voting common stock of DEF Corporation. h. 50% of the voting common stock of JMG Corporation. i. 18% of voting common stock of Griggs Corporation; investor's CEO on the board of directors of Griggs Corporation; no other investor owns more than 1%. j. Corporate bonds to be held for full term of 10 years. | | | | 4. Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the number for the correct term to indicate the way each of the investments usually should be accounted for under U.S. GAAP based on the information provided. (5 pts) TERM PHRASE NUMBER a. Treasury bonds held for their entire life. 1. None of the these choices apply 2. Trading Securities b. Accounts Receivable. c. Treasury bonds held for short-term profit. 3. Consolidation 4. Securities Held-to-Maturity 5. Equity Method d. Corporate bonds held for immediate resale. e. 40% of the voting common stock of XYZ Company. I f. 85% of the voting common stock of ABC Corporation. g. 25% of the voting common stock of DEF Corporation. h. 50% of the voting common stock of JMG Corporation. i. 18% of voting common stock of Griggs Corporation; investor's CEO on the board of directors of Griggs Corporation; no other investor owns more than 1%. j. Corporate bonds to be held for full term of 10 years. | | | |
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Matching Phrases With the Correct Terms Number Student name Institutio... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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