ing . Factors contributing to a decline in the usefulness of a fixed asset may be divided into the followi rwo casegones a. salvage and functional b. physical and functional c residual and salvage d functional and residual sust 2 The natural resources of some companies include a timber, metal ores, and minerals b. timber, equipment, and patents c minerals, trademarks, and land d. metal ores, copyrights, and supplies 3. All of the following are examples of intangible assets, except a. McDonald's golden arches b. The rights to Tupac's poetry d. All of the above are intangible assets 4. All of the following describe the characteristics of current liabilities except? a Receiving payment prior to delivering goods or services causes a current liability to be incurred. b. All long-term liabilities eventually become current liabilities. c For a current liability to exist, the liability must be due usually within a year. d. All of these statements are true 5. Ifthe market rate of interest is 7%, the price of 6% bonds paying interest semiannually with a face value of 5500,000 will be .equal to S500.000 b. greater than $500,000 c. less than $500,000 d. greater than or less than $$00,000, depending on the maturity date of the bonds 6. If the market rate of interest is 10%, a S 10.000, i2%, 10-year bond that pays interest semiannually would sell at an amount a. less than face value b equal to the face value c greater than face value d. that cannot be determined 7. IfS2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is a. $2.060,000 b. $2,000,000 c.$2.100,000 d. $1.940,000