Write brief answers of the following questions!
1. What is meant by the "market rate" of interest, the "effective rate" of interest, and the "yield rate" of interest?
2. How are donated assets recorded?
3. Briefly explain the differences between the terms depreciation, depletion, and amortization.
4. Define and distinguish between current and noncurrent liabilities.
5. List at least three ways that bonds may be taken off the market prior to maturity.
6. Discuss the financial statement disclosure requirements for all leases entered into by the lessee.