1. Provisions include legal and constructive obligations.
2. Amortized cost uses either effective interest method or straight-line method.
3. The foreign currency gain or loss for a note payable is recognized in net income.
4. When estimating provisions with a range, the mid-point of the range is used.
5. A mortgage due within the next year is classified as a long-term liability if refinancing is completed by the date the financial statements are completed.

Required:
Identify whether each statement is true or false.