Exercise 15-1 (Static) Debt and equity securities and short- and long-term investments LO C1 Complete the following descriptions by selecting the appropriate option. 1. Debt securities reflect a(n) 2. Equity securities reflect a(n) relation such as with investments in notes and bonds. relation such as with investments in shares of stock. 3. Short-term investments are securities that (1) management intends to convert to cash within or the whichever is longer, and (2) are readily convertible to 4. Long-term investments in securities are defined as those securities that are convertible to cash or are to be converted into cash in the short term.