Testbank, Question 3 Your answer is incorrect. Try again. Which of the following statements is not true about recognition and subsequent accounting for financial liabilities? O They are initially recognized at their fair value. O After acquisition, they continue to be accounted for at fair value. O After acquisition, they are generally accounted for at amortized cost. O Short-term liabilities, such as accounts payable, are usually recorded at their maturity value dy Testbank, Question 5 Your answer is incorrect. Try again. Regarding zero-interest-bearing notes they do not have an interest component. O the debtor receives the future value of the note and pays back the present value. O any interest is never recognized until the note is repaid. O the debtor receives the present value of the note and pays back the future value. LINK TO TEXT