TRUE OR FALSE QUESTION #1 A financial liability means there is a contractual obligation to pay cash in the future. TRUE OR FALSE QUESTION #2 Bonds are often traded on an organized exchange, such as the Toronto Stock Exchange (TSX). TRUE OR FALSE QUESTION #3 The face value of a bond is the amount of principal and interest due at the maturity date. TRUE OR FALSE QUESTION #4 If a bond has a face value of $10,000 and a 6% coupon interest rate, then the semi-annual interest payment will be $600. TRUE OR FALSE QUESTION #5 The calculation of interest to be paid each interest period for a bond payable is not influenced by any premium or discount upon issue