How much must the steel: to worth at expiration for a call holder to break even if the exercise price is US $60 and the call premium was U` $ 3?

• A.US $57.00
• B.US $60.00
• C.US $61.50
• D.US $63.00

Comment: *

Name: *

Email: *

Verification: *

If receivables transferred with recourse qualify for derecognition, the proceeds from the transfer are:

• A.Accounted for as a collateralized borrowing.
• B.Recorded at fair value for the assets obtained and liabilities incurred.
• C.Explanation:
  The entity derecognizes financial assets if it has transferred substantially all of the risks and rewards of ownership. Derecognition also is appropriate when the entity neither has transferred nor retained substantially all the risks and rewards of ownership, providing the entity does not have control. After derecognition, periodic profit or loss will include the difference between the carrying amount transferred and the proceeds, plus or minus any prior adjustment r fl ling the fair value of the asset that had been reported in equity. If a new financial asset is created or a financial liability is assumed, the calculation is adjusted for the fair value of the asset or liability. Thus, the proceeds of the sale are reduced by the fair value of the resource obligationa new financial liability). When the transfer does not meet these criteria, the transfer is accounted for as a collateralized borrowing. A transferor entity most likely should continue to recognize a transferred financial asset if the:
  A. Transferor may reacquire the asset, and the asset is readily obtainable in the market
  B. Transferee may sell the full fair value of the asset
  C. Transferor has an option to reacquire the asset, and the reacquisition price is fair value
  D. Transferor is entitled and obligated to repurchase the asset, and the transferee receives a lender's return.
• D.Reduced by the fair value of the recourse obligation.
• E.Recorded at the historical cost of the assets obtained.

Comment: *

Name: *

Email: *

Verification: *

An organization buys equity securities for trading purposes and sells them within a short time period. Which of the following is the correct way to value and report those securities at a financial statement date?

• A.As current assets in the balance sheet
• B.At amortized cost in the income statement.
• C.At fair value with changes reported in net income.
• D.At fair value with changes reported in the shareholders' equity section.

Comment: *

Name: *

Email: *

Verification: *

In an inventory system on a database management system DBMS), one stored record contains part number, part name, part color, and part weight. These individual items are called:

• A.Fields.
• B.Stored files.
• C.Bytes.
• D.Occurrences.

Comment: *

Name: *

Email: *

Verification: *