Question: Statement 1:Only debt instruments acquired within 3 months before their scheduled maturity date can qualify as cash equivalents. TRUE Statement 2: Transaction costs are incremental

Statement 1:Only debt instruments acquired within 3 months before their scheduled maturity date can qualify as cash equivalents. TRUE Statement 2: Transaction costs are incremental costs that are indirectly attributable to the acquisition, issue or disposal of a financial instrument. FALSE-directly a. Statements 1 and 2 are false b. Statement 1 is true but statement 2 is false c. Statement 1 is false but statement 2 is true d. Statements 1 and 2 are true

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