1. How are long-term bonds classified and disclosed in the balance sheet? How are long-term bonds measure initially upon purchase or sale? 2. What are the two methods of classifying convertible debt from equity? 3. Which types of companies use a process costing system to account for product costs? Provide at least three examples of products that would require the use of a process costing system. 4. Explain the concept of equivalent units assuming the weighted average method is used. Explain the concept of equivalent units assuming the weighted average method is used.