D Question 19 2 pts Which of the following statements is true of liabilities? Classification of current liabilities is important because of the liquidity concept. Current liabilities are listed in order of decreasing amounts in the current liability section of the balance sheet. Accounts payable are generally recorded at their present value The accounting principles followed in the U.S. differ from those of other countries; this is especially true for current liabilities. Question 18 2 pts Refer to the Time Value of Money Tables. Sullivan Company issued $1,000,000,8%, 7 year bonds. interest payable semiannually. The market rate of interest was 6%. The issuance price of the bonds is $1,000,000 $1,112,840 $1.111.560 $1.151,480