At the Beginning of the Year a Company Had a Debit

question 72

Multiple Choice

At the beginning of the year a company had a debit balance in the account Market Adjustment--Trading Securities.During the year the company did not buy or sell any trading securities,but at the end of the year the related market adjustment account had a credit balance.This change indicates that

• A) a loss on the income statement was recognized.
• B) a gain on the income statement was recognized.
• C) the value of the investment account increased.
• D) the value of the investment account decreased.

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Definitions:

Job Evaluation

Is a method for determining the relative value or worth of a job to the organization so that individuals who perform that job can be compensated adequately and appropriately.

Social Security

Officially the Old Age Survivors and Disability Insurance Program, another mandated program, was originally designed to provide limited income to retired individuals to supplement their personal savings, private pensions, part-time work, and so forth.

Full Benefits

A comprehensive benefits package offered to employees, which may include health insurance, retirement plans, vacation days, and other perks in addition to salary.

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment.