1. A company can classify a debt security as held-to-maturity if it has the positive intent to hold the securities to maturity. a True b. False 2. Equity security holdings between 20 and 50 percent indicates that the investor has a controlling interest over the investee. a. True b. False 3. Discount on Notes Payable is a contra account to Notes Payable on the balance sheet. a. True b. False 4. Companies report the amount of social security taxes witheld from employees as well as companies' matching portion as current liabilities until they are remitted. a. True b. False The fair value of an asset retirement obligation is recorded as both an increase to the related asset and a liability 5. a. True b. False