Which of the Following Are Incorrect

question 98

Multiple Choice

Which of the following are incorrect?

• A) On completion of a trade each stock broker will send a contract note to the buyer and settle.
• B) Overlapping bids and offers for shares are executed at each price level in the order they are recorded in the system.
• C) ASX Trade provides a fair, efficient trading system, developing latency down to the 1 second.
• D) Shares listed on the ASX are known as uncertified securities.

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Definitions:

Adjustment

An alteration made to financial records or statements to correct errors or account for changes.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure that a company's financial transactions are correctly recorded.

Worksheet

A paper or digital document used to organize information, perform calculations, and prepare for the creation of financial statements.

Revenue

Total financial returns resulting from a company's main operational activities, specifically the sale of its goods or services.