7. Which of the following accounts would be classified as current assets on the balance sheet? a. Accounts receivable, inventory, cash equivalents. b. Marketable securities, accounts payable, property, plant and equipment. c. Prepaid expenses, goodwill, long-term investments. d. Property, plant and equipment, inventory, goodwill. 8. Which of the following statements is true? a. The straight-line method of depreciation allocates a decreasing amount of depreciation expense each year. b. Straight-line depreciation is the least used method for financial reporting purposes. c. Fixed assets are reported at historical cost less accumulated depreciation on the balance sheet. d. The total amount of depreciation over the asset's life is larger when using an accelerated method of depreciation. 9. Which stockholders' equity account represents stocks repurchased by the company, but not retired a. Treasury stock. b. Accumulated other comprehensive income c. Retained earnings. d. Preferred stock