Accruex Corporation Has Excess Cash of $25,000 and Invests the Same

question 72

Multiple Choice

Accruex Corporation has excess cash of $25,000 and invests the same amount in corporate bonds on March 30, 2015. The bonds will mature in two years from the date of purchase. The company plans to use the cash from the bonds for its business expansion after the bonds mature in 2017. Based on the information provided, which of the following will be included in the journal entry on March 30, 2015?

• A)a debit to Long-term Investments-Held-to-Maturity for $25,000
• B)a debit to Short-term Investments-US Treasury Notes for $25,000
• C)a debit to Long-term Investments-Available-for-Sale for $25,000
• D)a credit to Long-term Investments-Available-for-Sale for $25,000

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Definitions:

Recessive Trait

A genetic trait that is expressed only when two recessive alleles for the same characteristic are inherited, one from each parent.

Gene

A basic unit of heredity, made up of DNA, that contains the information necessary to build and maintain an organism's cells and pass genetic traits to offspring.

Gender Roles

Gender roles refer to societal norms dictating the types of behaviors considered acceptable, appropriate, or desirable for people based on their actual or perceived sex or gender.

Theoretical Approaches

denote the broad frameworks or perspectives in academic disciplines used to conceptualize research, interpret data, and derive insights.