If You Buy Stock Certificates and Keep Them at the Brokerage

question 54

Multiple Choice

If you buy stock certificates and keep them at the brokerage firm rather than taking personal possession of them, your stock is in:

• A) street name
• B) a short sale
• C) a limit order
• D) listed name

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Definitions:

Work in Process

Inventory that includes materials that are in the process of being manufactured but are not yet completed products.

Raw Materials

Basic materials used in the production process, not yet converted into finished goods.

Work in Process Inventory

Inventory that includes all the materials, labor, and overhead costs for products that are in the production process but not yet complete.

Manufacturing

The process of producing goods through the combination of labor, machinery, tools, and chemical or biological processing or formulation.