Answer:
Debit entry - Accounts Receivables - $2,000
Credit entry - Sales - $2000
Explanation:
Due to the fact that it is a credit sale, it means that the cash would be obtained at a future date in time. Hence, until then, Mr Smythe is indebted to Able as he is a debtor. Once he pays what he owes to Able and the cash has been received, Accounts receivables would be credited with $2000 and cash would be debited with $2000.
Answer:The holder of a call or put option must exercise the right to sell or buy an asset.
Explanation:The holder of a right or put option has the right to exercise that power but it is not a mandatory right,he or she can decide not to exercise that power.
All other options are correct, a call or gives the holder the right to buy an asset at a certain date and at a specific price.
A put option gives the holder the right to sell an asset at a specific date and price.
The holder of a forward contract is obligated to buy or sell an asset.
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The correct option would be B
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