Use This Information to Answer the Following Question B) C)

question 9

Multiple Choice

Use this information to answer the following question.These facts concern the long-term stock investments of Alpha Corporation:
The entry to adjust the Allowance to Adjust Long-Term Investments to Market in 2010 is:

• A)\(\begin{array}{llr} \text { Unrealized Loss on Long-Term Investments } &6,000\\ \text { Allowance to Adjust Long Term Investment to Market } &&6,000\\ \end{array}\)
• B)\(\begin{array}{llr} \text {Allowance to Adjust Long Term Investment to Market } &10,000\\ \text { Unrealized Loss on Long-Term Investments } &&10,000\\ \end{array}\)
• C)\(\begin{array}{ll} \text { Unrealized Loss on Long-Term Investments } & 10,000 \\ \text { Allowance to Adjust Long Term Investment to Market }&&10,000 \end{array}\)
• D)\(\begin{array}{llr} \text {Allowance to Adjust Long Term Investment to Market } &6,000\\ \text { Unrealized Loss on Long-Term Investments} &&6,000\\ \end{array}\)

Understand the impacts of outstanding checks, deposits in transit, and other reconciling items on the bank reconciliation process.

Learn how the petty cash fund is established, reimbursed, and the journal entry involved in its replenishment.

Grasp the importance of the purchase requisition process in the purchasing cycle.

Understand and perform basic navigation within the Excel workbook environment.

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Definitions:

Improvidence

Lack of foresight or care in managing finances, often leading to unnecessary expenditure or loss.

Capacity

The legal ability of a party to enter into a contract.

Severely Intoxicated

A state of being under the influence of alcohol or drugs to a significant degree, impacting cognitive and physical abilities.

Capacity

In law, the ability of an individual to enter into a contract, evidenced by their being of sound mind and of legal age, or by a business to enter into agreements.