Which of the following relations described below is true?

Select one:

a. If the market rate is less than the stated rate, a note receivable is issued at a discount.

b. If a note is received and recorded at a discount, interest revenue decreases over the term of the note.

c. If a note is issued in exchange for services, the note is initially measured at the fair value of the services or the amortized value of the note, whichever is more clearly determinable.

d. Interest revenue for a period is calculated by taking the notes carrying value at the beginning of the period multiplied by the market rate.