1. The best example of an item which is NOT a current asset is
   1. accrued interest on notes receivable.
   2. goodwill.
   3. inventory.
   4. short-term investments.

2. HST payable is a:
   1. monetary liability.
   2. financial instrument.
   3. both (a) & (b).

3. When an asset is held for sale
   1. it must relate to a discontinued operation.
   2. the entity must continue to record depreciation for the asset.
   3. the asset is remeasured to the lower of carrying (book) value and fair value less costs to sell.