Omar has the following stock transactions during 2017:
a.What is Omar's recognized gain or loss on the stock sales if his objective is to minimize the recognized gain and to maximize the recognized loss?
b.What is Omar's recognized gain or loss if he does not identify the shares sold?
Definitions:
M3
M2 plus large-denomination time deposits.
M1
A category of the money supply that includes physical currency and coins, demand deposits, traveler’s checks, and other checkable deposits.
M2
A measure of the money supply that includes cash, checking deposits, and easily convertible near money.
M3
A measure of the money supply that includes M2 plus large time deposits, institutional money market funds, and short-term repurchase and other larger liquid assets.
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