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The accountant of Peyton Financial Services failed to make an adjusting entry to record $7,000 of depreciation expense.Which of the following statements is TRUE?
Initial Margin
The minimum amount of equity required to open a new position in a margin account, set by the broker.
Common Stock
A type of security that represents ownership in a corporation, giving shareholders voting rights and potential dividends.
Bid-Ask Spread
The difference between the highest price that a buyer is willing to pay (bid) for an asset and the lowest price that a seller is willing to accept (ask).
Dealer
An individual or firm in the financial services industry who buys and sells securities for their own account, whether through a broker or otherwise.
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