On October 1 of Last Year, Hand Tools Corp

question 94

Multiple Choice

On October 1 of last year, Hand Tools Corp. purchased 1,500 shares of the Bindo Bank for $72,000 as a trading investment. At year end, December 31, the fair value of these shares was $75,000. On February 1 of this year, Hand Tools sold all these shares for $73,000. The realized gain (loss) that Hand Tools will report this year is

• A) a gain of $2,000.
• B) a gain of $1,000.
• C) a loss of $1,000.
• D) a loss of $2,000.

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Definitions:

Ultrasonic Cries

High frequency sounds, often beyond human hearing range, used by some animals, like bats and rodents, for communication or echolocation.

Cricket Behavior

Entails the study of actions or reactions of cricket species in response to external or internal stimuli, focusing on communication, reproduction, and survival strategies.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, which can be tested and falsified through experimentation and observation.

Ultrasonic Cries

Sounds emitted above the human hearing range, often used for communication or echolocation in various species.