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Long-term investments: Multiple Choice Must be readily convertible to cash. Are expected to be converted into...

Long-term investments:

Multiple Choice

  • Must be readily convertible to cash.

  • Are expected to be converted into cash within one year.

  • Include only equity securities.

  • Can include funds designated for a special purpose, or investments in land not used in the company’s operations.

  • Are current assets.

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Answer #1

Must be readily convertible to cash - Cash equivalents

Are expected to be converted into cash within one year - Current assets

Include only equity securities - Equity securities could be current or non current

Are current assets - The assets which are expected to be consumed or converted to cash within one year or the normal operating cycle whichever is longer.

The answer is - Can include funds designated for a special purpose, or investments in land not used in the company’s operations.

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