A Short-Term Investment Acquired at a Cost of $15,000 in 2016

question 51

Multiple Choice

A short-term investment acquired at a cost of $15,000 in 2016 is sold in 2017 for $13,800.After the proper adjusting entry was prepared in 2016,the short-term investment had a carrying value of $14,200.In 2017,the investor should report a(n) :

• A) Loss on Sale of Short-Term Investment of $400
• B) Gain on Sale Short-Term Investment of $800
• C) Loss on Sale of Short-Term Investments of $1,200
• D) Unrealized Loss on Short-Term Investment of $400

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Definitions:

Femur

The longest and strongest bone in the human body, connecting the hip to the knee.

Common Site

A term that refers to a place or area that is usually or frequently used for a particular purpose or activity.

Neck

The part of the body connecting the head to the torso, containing structures like the cervical vertebrae, muscles, and blood vessels.

Baby's Head

A reference often used in childbirth to indicate the part of the baby that is delivered first in a normal vaginal delivery.