Regardless of the type of plant asset disposal, the first step is to bring the depreciation up to date.

True

False

Just as individuals invest in a variety of companies' stocks and bonds, the same is true for businesses.

True

False

Any portion of a long-term liability that is due within the next year is reported as a current liability.

True

False

When bonds are retired at maturity, assuming the last interest payment has already been recorded, the journal entry includes a debit to the Bonds Payable account and a credit to the Cash account.

True

False