a._____ T or F Certificates of deposit,commercial paper and U.S. Treasury Bills with original maturity of 3 months or less are examples of highly liquid investments and are classified as cash equivalents. (if false, identify and correct error)

b. _____ T or F Depreciation expense reduces operating income in the Income Statement, but does not require the use of cash. It is reported in the Statement of Cash Flow, within the Financing Activities section, as a separately stated item: addition to net income (if false, identify and correct error)