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Stock Categorized as Trading Securities Is Purchased for $52,000

Question 89

Multiple Choice

Stock categorized as trading securities is purchased for $52,000.At year end,when the market value of the stock is $61,000,the balance of the Short-Term Investments account appearing on the balance sheet will be


A) $9,000
B) $52,000
C) $61,000
D) none of these

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