At the End of Its First Year, the Trading Securities

question 146

Multiple Choice

At the end of its first year, the trading securities portfolio consisted of the following ordinary shares. In the following year, the Benes ordinary shares are sold for cash proceeds of $58,000. The gain or loss to be recognized on the sale is a

• A) gain of $4,200.
• B) loss of $2,000.
• C) gain of $2,200.
• D) loss of $400.

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Definitions:

Loyalty

A strong feeling of support or allegiance to someone or something, often expecting a mutual sense of duty and faithfulness in return.

Wrongful Dismissal

Termination of an employee's contract of employment in violation of the law or the terms of the contract itself.

Employment Relationship

A legal and formal association between an employer and an employee where both parties have specific rights and obligations.

Tortious Conduct

Behavior that constitutes a tort, actions that cause injury or harm to another person, leading to legal liability.