Which of the Following Accounts Will Only Be Found in the Chart

question 17

Multiple Choice

Which of the following accounts will only be found in the chart of accounts of a merchandising company?

• A) Sales
• B) Accounts Receivable
• C) Inventory
• D) Accounts Payable

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Definitions:

Marking to Market

The process of adjusting the value of an asset to its current market level rather than its book value or original cost.

Margin Calls

A broker's demand on an investor to deposit additional money or securities so that the margin account is brought up to the minimum maintenance margin.

Gains

The increase in value of an asset or investment, measured as the difference between the sale price and the purchase price.

April Futures Price

The April Futures Price refers to the agreed-upon price set in a futures contract for the delivery of a specific commodity, financial instrument, or currency in April.