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question 1 investments in debt securities should be recorded on the date of acquisit 4286936

Question

1. Investments in debt securities should be recorded on the date of acquisition at a. market value minus brokerage fees and other costs incident to the purchase. b. face value minus brokerage fees and other costs incident to the purchase. c. market value plus brokerage fees and other costs incident to the purchase. d. face value plus brokerage fees and other costs incident to the purchase. 2. Where are unrealized holding gains and losses on these securities closed during year-end closing journal entries? Retained earnings Accumulated other comprehensive income a. trading securities held-to-maturity securities b. trading securities available-for-sale securities c, available-for-sale securities held-to-maturity securities d. available-for-sale securities trading securities 3. in accounting for long-term construction contracts, construction costs are accounted for in an inventory account called Construction in Progress under the Percentage-of Completed-contract Completion method method Yes No No Yes No No Yes Yes

 

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