Objectivity (also called verifiability and bias (usefulness) are two extremely important characteristics of accounting. Discuss each of the following situations in terms of how you believe they affect objectivity and bias. The latest standard on troubled debt restructuring, SFAS No. 114, calls for newly restructured receivables to be discounted at the original or historical discount rate. Two board members disagreed with the majority position because they thought the discount rate should be the current discount rate, given the terms of the note and the borrower's credit standing.