Which of the Following Is True of the Accounting Entries

question 48

Multiple Choice

Which of the following is true of the accounting entries for debt securities?

• A)The receipt of interest revenue is recorded with a debit to Interest Revenue and a credit to Cash.
• B)Investments in debt securities are recorded at cost, including any brokerage fees paid.
• C)The receipt of interest revenue is recorded with a debit to Cash and a credit to Long-term Securities-Held-to-Maturity.
• D)Debt securities disposed of at maturity are recorded with a debit to the Short-term or Long-term Investments account and a credit to Cash.

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Definitions:

Landrum-Griffin

A law, officially known as the Labor-Management Reporting and Disclosure Act of 1959, aimed at regulating labor unions' internal affairs and their officials.

Taft-Hartley

Refers to the Taft-Hartley Act, a 1947 federal law that restricts the activities and power of labor unions in the United States.

Wagner Act

A foundational statute in United States labor law that protects the rights of workers to form unions and engage in collective bargaining.

Wagner Act

Also known as the National Labor Relations Act of 1935; a foundational statute of United States labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.