On May 11, McElroy Inc

question 45

Multiple Choice

On May 11, McElroy Inc.purchased a call option on 5,000 bushels of wheat with delivery on August 31 for a premium of $750.The strike price is $1.85 per bushel.The values of the option at the end of May and June are $790 and $810, respectively.The option is sold on July 26 for $804.McElroy Inc.prepares quarterly and annual financial statements.Its year end is June 30.McElroy Inc.will

• A)​recognize a gain on options of $60 on its fourth quarter income statement.
• B)​recognize a gain on options of $20 on its fourth quarter income statement.
• C)​recognize a gain on options of $40 on its fourth quarter income statement.
• D)​record a gain on options of $54 in the July 26 entry to sell the option.

Grasp the basic guidelines for proper citation and documenting sources according to APA style.

Recognize the legal, academic, and personal consequences of plagiarism.

Differentiate between paraphrasing, summarizing, and quoting, and understand when and how to use each technique.

Comprehend the significance of pre-reading and analyzing context in summarizing a document or speech.

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Definitions:

Intermarriages

Marriages between partners from different social, racial, ethnic, or religious backgrounds.

Whites and Blacks

A societal division based on racial identification, often used in the context of discussing racial dynamics and inequalities.

Asian American Families

Families originating from Asia or of Asian descent, living and adapting to cultural norms in America.

Successful

Pertaining to achieving one's aims or goals, often leading to fame or financial prosperity.