This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Securities held by an Investment Trust Fund and carried on the books at 100,000 are sold for 110,000 ... (Read 51 times)

Kikoku

  • Hero Member
  • *****
  • Posts: 540
on: Jul 5, 2018
Securities held by an Investment Trust Fund and carried on the books at 100,000 are sold for 110,000 . On receiving the cash from the sale, how should the Investment Trust Fund account for the 10,000 gain?
 
  a. as a direct credit to net position of the Fund participants
  b. as a liability - due to Fund participants
  c. as an addition - net increase in fair value of investments
  d. as a gain - equity in investment pool

Question 2

Processing methods
 a. are the policies and procedures that protect assets from misuse
  b. must be computerized.
  c. are the means by which the accounting system collects, summarizes, and reports accounting information
  d. ensure that business laws and regulations are followed


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wuly

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

c


Kikoku

  • Member
  • Posts: 540
Reply 2 on: Jul 5, 2018
Excellent

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil The Land Ordinance of 1785 called for surveying and dividing the Western Territories into square mil
The Titanic carried only twenty lifeboats, a reason why so many perished in 1912. The Lusitania (abo The Titanic carried only twenty lifeboats, a reason why so many perished in 1912. The Lusitania (abo
If you get a chance, look through popular read-aloud books for young children, such as The Very ... If you get a chance, look through popular read-aloud books for young children, such as The Very ...
Atmospheric currents carried radioactive fallout across much of Northern Hemisphere Atmospheric currents carried radioactive fallout across much of Northern Hemisphere
In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ... In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ...
The monastery garden where Mendel carried out his experiments on plant genetics. The monastery garden where Mendel carried out his experiments on plant genetics.
Video: Cardiac Cycle (Part 2 of 4)

For a complete list of videos, visit our video library