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NEW QUESTION: 1
Which of the following is/are true about marketable securities?
I. They are carried on the books at the market value.
II. Transfers between different classifications are carried out at fair market value.
III. Companies are not required to disclose the classification of the specific investment securities in the balance sheet.
A. II only
B. II & III
C. I, II & III
D. I & III
Marketable securities are classified into various categories. Securities that are designated as "held-to- maturity" are reported at historical cost, not fair market value. Other categories prescribe a reporting at fair market value. Thus, (I) is not necessarily true. Despite this, when the classification of a security is changed, the assignation of the security to the new account is carried out at the fair market value on the transfer date, with any gain or loss reflected separately on the income statement (in the case of trading and held-to-maturity securities) or as a separate component of shareholder equity (in the case of available-for- sale securities). Companies are not required to disclose securities classification on the balance sheet; disclosure can occur in the footnotes.
NEW QUESTION: 2
For which two items can you change the default settings by using a Fibre Channel adapter policy*? (Choose two.)
A. WWNN pool
C. RSS hash
D. SAN pin group
NEW QUESTION: 3
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