1. Bonds purchased at discount can be valued at:

A. Amortized cost

B. Fair value

C. Both A and B

D. None of these

2. which of the following does not fall in the category of Financial Assets

A. Cash

B. An equity instrument of another enity

C. Patent

D. Accounts Receivable

3. Shares can be issued for:

1. cash

2. promissory notes

3. property

4. All the above