Purpose: (L.O. 1 thru 7) This exercise will quiz you about terminology used in this chapter.
A list of accounting terms with which you should be familiar appears below:
|Consolidated financial statements
||Subsidiary (affiliated) company
For each item below, enter in the blank the term that is described.
- ___________________________________Investments that are readily marketable and intended to be converted into cash within the next year or operating cycle, whichever is longer.
- ___________________________________Investments that are not readily marketable or that management does not intend to convert into cash within the next year or operating cycle, whichever is longer.
- ___________________________________A group of stocks and bonds of different corporations held for investment purposes.
- ___________________________________Investments in government and corporation bonds.
- ___________________________________Investments in the capital stock of corporations.
- ___________________________________An accounting method in which the investment in common stock is recorded at cost and revenue ...