25. Explain how stock purchases should be handled, what records should be kept, and what information in regard to them is necessary. 26. What is the difference between a _bull_ and a _bear_? 27. Explain the meaning of a buying order and state how it should be treated in the accounting department. 28. On July 5th James Robinson sold 25,000 bushels of September wheat at 1.04½; on July 10th he purchased 10,000 bushels wheat at 1.02¼, and on July 11th he purchased 15,000 bushels of wheat at 1.02. Make a statement of this account for Mr. Robinson. 29. What is the difference between _listed_ and _unlisted_ stock? 30. What is a _debit_ or _credit slip_ and for what purpose is it used? 31. Show the ruling of the stock ledger and explain the necessity of each column. Rule a sample page. 32. For what purpose is the journal used in connection with the brokerage business? 33. Explain the meaning of _buyer's option_. 34. Explain the meaning of _carrying charges_. 35. Explain the meaning of _a put_ and _a call_. REVIEW QUESTIONS ON THE SUBJECT OF BILLING AND ORDER RECORDING 1. Explain the difference in principle between the _cylinder_ billing machine and the _flat-bed_ billing machine. 2. Explain the meaning of _manifolding_. 3. Explain in your own language why the plan of copying invoices in tissue books with a letter press is inferior to the billing-machine method of typewriting the invoice and sales sheet simultaneously. 4. If an office boy mailed a pen-written invoice without copying same in the tissue book, what method would enable the firm to detect such oversight? 5. What is the difference between the style of invoice used on flat-bed machines and on cylinder machines? 6. When a concern uses two ledgers on account of having too many customers to be conveniently held in one ledger, what change is advisable in ruling the columns of the sales sheet? 7. What plan is used in classifying sales according to territory, salesmen, etc.; and what means is used to prove the footings of each page? 8. How much of the left side of the sales sheet do you understand is covered by the invoice when they are both in the machine for the purpose of making the bill and charge? 9. How do you classify with the machine the amounts of the bills in the columns to the right of the total column? 10. Name all of the reasons you can, whether included in the textbook or not, for making duplicate invoices. 11. Explain why some firms are enabled to make their invoices (and, of course, sales sheets) before the goods are shipped, and give reasons why other firms are forced to wait until after the order has been shipped, or at least partially shipped, before making invoices.