Question 30

For the following investment, identify how it is classified:

15% of the common stock of Hayes Company was purchased.

		Trading debt securities.
		Available-for-sale debt securities.
		Held-to-maturity debt securities.
		None of the above.

Question 20

Under the new tax law only the following are allowed.

		carrybacks
		carryforwards
		both carrybacks and carryforwards
		neither carrybacks and carryforwards