Fundamental Accounting Principles -Hardcover
Fundamental Accounting Principles -Hardcover
22nd Edition
ISBN: 9780077862275
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 15, Problem 1E

Exercise 15-1

Debt and equity securities and shod- and long-term investments

C1

Complete the following descriptions by filling in the blanks using the tern or phrases a through g.

a. not intended

b. not readily

c. cash

d. operating cycle

e. one year

f. owner

g. creditor

1. Debt securities reflect a _____ relationship such a investments in notes, bonds, and certificates of deposit.

2. Equity securities reflect a(n) ____ relationship such as shares of stock issued by companies.

3. Short-term investments are securities that (1) management intends to convert to cash within ____ _____ or the _____ _____, whichever is longer, and (2) are readily convertible to ____.

4. Long-term investments in securities are defined as those securities that are ____ ____ convertible to cash or are _____ _____ to be converted into cash in the short term.

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Fundamental Accounting Principles -Hardcover

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