13. Solvency is an indicator of a firm's A. ability to pay bills as they come due B. ability to cover total liabilities from total assets C. a measure of the quality of a firm's operating assets D. a measure of the level of long term debt a firm has incurred E. a measure of how quickly total assets can be converted to cash Short Answer 24 points 1. In class we diseussed the concept of substance over form in making accounting choices. Please briefly deseribe this concept. 13 points 2. Related to the concept of materiality describe how it might affect the shoice of accounting method for certain transaction. [3 points