Use the Following Information to Answer Questions

question 106

Multiple Choice

Use the following information to answer questions
Wells Inc.reported these transactions relating to marketable Trading Investments intended to generate net income and to be sold in the near term:

-The entry to record the sale of the shares on Oct 1 would include a

• A)credit to Trading Investments for $3,800.
• B)credit to Realized Gain for $800.
• C)credit to Unrealized Gain for $800.
• D)debit to Unrealized Gain for $3,800.

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Definitions:

Interval Data

A type of numerical data where the difference between two values is meaningful, but there is no true zero point, allowing for comparisons of differences but not ratios.

Nominal Responses

Answers to survey questions that are categorized into groups without any inherent numerical value or order.

Ordinal Responses

Data that represent categories with a meaningful order but not necessarily equidistant intervals between categories.

Interval Responses

Responses or data that range within a specific interval, often used in surveys or statistical analysis to understand distribution or preference.