1. Deposits of amounts payable to the federal government may be paid through federal depository banks.

True

False

2. Trading securities are:

		Always classified as Long-Term Investments.
		Reported at historical cost, adjusted for the amortized amount of any difference between cost and maturity value.
		Intended to be held to maturity.
		Reported at fair value on the balance sheet.
		Recorded at cost and remain at cost over the life of the investment. 3. If a company is comparing this year's financial performance to last year's financial performance, it is using horizontal analysis. True False