1. Loans and receivables are classified according to their business model.

2. All notes receivables are measured at amortized cost.

3. Overdrafts can be netted against a positive balance in a bank account with any bank.

4. Gains and losses from translation foreign currency for cash are recognized in net income.

5. A common internal control over cash is segregation of duties.

Required:

Identify whether each statement is true or false.