________ Investments Are Categorized as Either Current Assets or Long-Term

question 47

Multiple Choice

________ investments are categorized as either current assets or long-term assets on the balance sheet,depending on the maturity date.

• A) Held-to-maturity debt
• B) Serial bond debt
• C) Trading debt
• D) Available-for-sale debt

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Definitions:

Contra Account

An account used in the general ledger to reduce the value of a related account when the two are netted together.