Discount on Bonds Payable is a balance sheet item for Corvon Inc. How would it most likely be classified on the balance sheet? Select one: A. Current liability B. Long-term liability C. Current asset D. Contra liability If Irish Company has paid out more in dividends than it has had in net income, over the lifetime of the company, then there should be a Select one A. Increase in the Common Stock account B. increase in the Retained Earnings account C. decrease in the Common Stock account. D. decrease in the Retained Earnings account. Which of the following statements is true? Select one A Operating activities primarily involve transactions that affect noncurrent assets B. Investing activities primarily involve US government securities and long term productive assets. C. Financing activities primarily involve transactions that affect current liabilities D. Different balance sheet accounts are affected depending on whether the direct or indirect method is used