MCQs>Finance & Management>Accounting Skills (Securities, Derivatives And Investments)>XYZ Company acquires marketable securities in Year 1 at a cost of $90,000. The securities can be readily converted into cash and XYZ Company intends to do so when it needs cash. How would XYZ Company report this investment on its Year 1 Balance Sheet?
Accounting Skills (Securities, Derivatives And Investments) MCQs
XYZ Company acquires marketable securities in Year 1 at a cost of $90,000. The securities can be readily converted into cash and XYZ Company intends to do so when it needs cash. How would XYZ Company report this investment on its Year 1 Balance Sheet?
Answer
Correct Answer: As a current asset in the Marketable Securities account
Explanation:
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Accounting Skills (Securities, Derivatives And Investments) Skill Assessment