quiz 4 - Question 1 0.5 out of 0.5 points Garret Company...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 0.5 out of 0.5 points Garret Company owns the following investments: Trading securities (fair value) $ 4 Available for sale securities (fair value) 3 Held to maturity securities (amortized cost) 4 Garret will report investments in its current assets section of Answer Selected Answer: $45,000 or an amount greater than $45,000, depending on the circumstances. Correct Answer: $45,000 or an amount greater than $45,000, depending on the circumstances. Question 2 0.5 out of 0.5 points How are the following items handled in computing the total stockholders' equity section of the balance sheet? Treasury Stock Preferred Stock A. Added Added B. Added Subtracted C. Subtracted Subtracted D. Subtracted Added Answer Selected Answer: D. Correct Answer: D. Question 3 0.5 out of 0.5 points A parcel of land that you plan to sell in the next year should be classified on the balance sheet as a(n) Answer Selected Answer: current asset. Correct Answer:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/19/2010 for the course ACCOUNTING Finance 23 taught by Professor Bob during the Winter '10 term at Wayne State University.

Page1 / 3

quiz 4 - Question 1 0.5 out of 0.5 points Garret Company...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online