2010-04-17, 10:24 PM
(This post was last modified: 2010-04-17, 10:27 PM by IllegallySane.)
Takebacker Wrote:The question seems vague, imo. Trading Securities should probably be counted as a current asset, since the question fails to mention whether or not said securities are to be paid to HIM or someone else. Since nothing else makes sense and trading securities is vague...seems like the best option.
Besides, "security", to me, implies that the money is an asset rather than a debt.
Disclaimer: I am not an accountant.
It's fine. I was confused by my quick google search on what trading securities is classified as, and I didn't remember my professor covering trade security classification. Thanks man! This gives me a valid answer of $68,000. Take-home quiz is now complete.
