If You Have $5,000 to Invest but Will Need to Use

question 46

Multiple Choice

If you have $5,000 to invest but will need to use the funds in three years to buy a home, you should

• A) invest in a diversified stock mutual fund.
• B) buy stocks of relatively stable firms that have low risk.
• C) buy a three-year CD.
• D) put the money in a money market savings account.

Classify items correctly as prepaid expenses, unearned revenues, accrued expenses, and accrued revenues.

Journalize adjusting entries for various scenarios including payroll, prepaid insurance, and license taxes.

Analyze and reconstruct adjusting entries from trial balances to determine net income.

Understand the principles of accrual basis accounting and how it differs from cash basis accounting.

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Definitions:

Sexual Harassment

Unwanted or inappropriate sexual advances, comments or behavior in a workplace or other professional or social situation, creating a hostile environment.

Immediate Action

Prompt and decisive action taken to address a situation or problem without delay.

Age-Discrimination Claim

A legal complaint alleging unfair treatment or discrimination in employment based on an individual's age.

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Qualified commonly refers to possessing the necessary skills, attributes, or credentials required for a certain position, activity, or condition.