What Is a "Fungible Good

question 88

Multiple Choice

What is a "fungible good?"

• A)A good for which one unit of the good is essentially the same as every other unit of the good.
• B)A good that is given as the subject of an inter vivos gift.
• C)A good that has value but not actual,physical form,such as a stock or a bond.
• D)A good that was once classified as mislaid property,but which was later transferred to the owner of the realty on which it was mislaid by operation of law.
• E)A good which was once moveable but is now permanently attached to real property.

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Definitions:

Acquisition Differential

The disparity between the acquisition cost and the fair market value of the identifiable net assets obtained.

Cumulative Preferred Shares

Type of preferred stocks where dividends accumulate if not paid in a given year, and must be paid out before common stock dividends can resume.

Surplus (Deficit)

The financial position that results when total revenues exceed (surplus) or are less than (deficit) total expenses.

Consolidated Balance Sheet

A financial statement that presents the assets, liabilities, and shareholders' equity of a parent company and its subsidiaries as one entity.