Question: 1) Define liabilities. Provide 5 examples. 2) Define bond discounts and premiums. Is 2023 a good time to purchase interest-sensitive securities? Please explain. 3) Distinguish

1) Define liabilities. Provide 5 examples.

2) Define bond discounts and premiums. Is 2023 a good time to purchase interest-sensitive securities? Please explain.

3) Distinguish between the straight line and effective interest methods. Provide examples. Which is acceptable under GAAP?

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