1. When a business sells an item and collects Harmonized Sales Tax (HST) on it, a current liability arises.

Select one: True False

2. Unsecured notes are issued against the general credit of the borrower.

Select one: True False

3. Blended principal and interest payments are repayable in

Select one:

A. varying periodic amounts plus interest.

B. varying periodic amounts including interest.

C. equal periodic amounts plus interest.

D. equal periodic amounts including interest.