Which of the following statements about financial statement disclosures appropriate to long-term debt are true? (Select all that apply.)

Check All That Apply

• Both interest expense and interest revenue are reported among operating activities on the statement of cash flows.

• In a statement of cash flows, issuing bonds or notes are reported as cash flows from investing activities by the issuer and cash flows from financing activities by the investor.

• Long-term debt is reported at its face amount accompanied by a separate valuation account for the discount or premium.

• The fair value of financial instruments must be disclosed either in the body of the financial statements or in disclosure notes.