Which of the following statement is incorrect? O The basic accounting equation, that is central to understanding the financial condition of a firm, is: Assets = Liabilities + Equity. O The Balance Sheet records revenues, expenses, and net profit occurring over a set period of time; usually one year. O Book value is recorded initially at cost. O After we subtract all operating expenses, financing expenses, and taxes from revenues, we arrive at the firm's net income (NI). O Most of the answers are correct. Which of the following statement is correct? O All the answers are incorrect. O When the federal government wants to borrow money for periods of less than a year, it issues Treasury notes or Treasury bonds. O Investment brokers make their living buying securities and reselling them to others and operate just like car dealers who buy cars from manufacturers for resale to others. O Without the congressional authority to print money, the U.S. Treasury cannot legally pay its obligations, including the interest and principal on Treasury securities. O Relatively safe bonds are called junk bonds. Which of the following statement is incorrect? O Long-term securities, maturities over one year, trade in the capital market. O Most of the answers are correct. Governments, corporations, and financial institutions that want to raise money for a short time issue capital market securities. O Federal, state, and local governments, as well as large corporations, raise long- term funds in the capital market. O The bonds that they do not pay any coupon interest are called zero-coupon bonds. Whenever we want to compare the risk of investments that have different means, O we use the coefficient of variation. we use the standard deviation none of the answers is correct. O we use the correlation coefficient O we use the variance