Quiz 3 - Question 1: Score 1/1 Which of the following...

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Question 1: Score 1/1 Which of the following investment securities held by Zoogle Inc. may be classified as held-to-maturity securities in its balance sheet? Your Answer: Choice Selected Long-term debenture bonds Selected Common stock Callable preferred stock All of these are correct. Question 2: Score 1/1 If the fair value of a held-to-maturity investment declines for a reason that is viewed as "other than temporary", Your Answer: Choice the investment is written down to fair value, and the impairment loss is recognized in net income. the investment is treated the same way it would be treated if the decline in fair value was viewed as temporary. the investment is not written down to fair value. the investment is written down to fair value, and the impairment loss is recognized in accumulated other comprehensive income. Question 3: Score 1/1 Beresford Inc. purchased several investment securities during 2008, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent.
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What would be the balance in Beresford's accumulated other comprehensive income with respect to their investments in its 12/31/09 balance sheet (ignore taxes)? Your Answer: Choice Selected $55,100 $26,500 $10,400 Selected None of these is correct. Feedback: This is the cumulative increase in fair value above cost for its available-for-sale securities. Question 4: Score 1/1 Securities that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as:
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Your Answer: Choice Selected Trading securities. Selected Securities available for sale. Held-to-maturity securities. Consolidating securities. Question 5: Score 1/1 Trading securities, by definition, are properly classified in the balance sheet as: Your Answer: Choice Selected Current assets. Selected Shareholders' equity. Other assets.
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Quiz 3 - Question 1: Score 1/1 Which of the following...

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