MCQs>Finance & Management>Accounting Skills (Securities, Derivatives And Investments)>XYZ Company purchases some debt securities in Year 2 with the intent of selling the securities when XYZ needs the cash for its operations. Given generally accepted accounting principles, which of the following categories would this investment fall under?
Accounting Skills (Securities, Derivatives And Investments) MCQs
XYZ Company purchases some debt securities in Year 2 with the intent of selling the securities when XYZ needs the cash for its operations. Given generally accepted accounting principles, which of the following categories would this investment fall under?
Answer
Correct Answer: Debt and equity securities held as securities available for sale
Explanation:
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Accounting Skills (Securities, Derivatives And Investments) Skill Assessment