You bought 100 shares of IKnow Inc. at $15 per share. You sold a call option for 100 shares with a strike price of $20 per share. This is an example of a covered option. a. True
b. False

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false