Use the Following Information to Answer the Question(s)below

question 3

Multiple Choice

Use the following information to answer the question(s) below.
An exchange traded fund (ETF) is a security that represents a portfolio of individual stocks.Consider an ETF for which each share represents a portfolio of two shares of Apple Inc.(APPL) ,one share of Google (GOOG) ,and ten shares of Microsoft (MSFT) .Suppose the current stock prices of each individual stock are as shown below:
-The price per share of this ETF in a normal market is closest to:

• A)$800.
• B)$1001.
• C)$1067.
• D)$1267.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to record any unrecognized income or expenses for that period.

Debit

An entry on the left side of an account, indicating an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credit

The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

Supplies Account

An account used in accounting to keep track of the amount spent on supplies not yet used or consumed by the business.