Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 60

Complete the following descriptions by filling in the blanks.
1. Debt securities reflect a _______ relationship such as investments in notes, bonds, and certificates of deposit.
2. Equity securities reflect an _______ relationship such as shares of stock issued by companies.
3. Short-term investments are securities that (1) management intends to convert to cash within _______ _______ or the _______ _______ , whichever is longer, and (2) are readily convertible to.
4. Long-term investments in securities are defined as those securities that are _______ _______convertible to cash or are _______ _______to be converted into cash in the short term.