Question 24 (1 point) Highly liquid investments with maturities of six months or less when acquired, qualify under the definition of cash equivalents. True False Question 25 (1 point) Once biological assets are ready for sale, they have effectively become inventory and will then be measured at the lower of their cost and net realizable value (NRV). True False Question 26 (1 point) Biological assets are generally recognized at their net realizable values, with gains and losses flowing through income. True False Question 27 (1 point) With effective interest amortization, interest expense is calculated by multiplying present value by the market interest rate True False