7. Which of the following is incorrect with regard to the valuation of cash and cash equivalents? a. Cash is valued at face value b. Cash denominated in foreign currency is translated using the closing rate c. Cash equivalents include interest that is to be received d. cash deposited in a bank that has filed for bankruptcy should be written down to its net realizable value. 8. Deposits in foreign countries that are also subject to certain foreign exchange restrictions should be a. Valued at current exchange rates and shown as current assets b. Valued at historical exchange rates and presented as noncurrent assets c. Valued at current exchange rates and presented as noncurrent assets d. Valued at historical exchange rates and presented as current assets 9. Which of the following should be considered cash equivalents? a. Certificates of deposit b. Money market with checking account privileges c. Legally restricted compensating balances d. Postdated checks