A security is considered liquid if it can be sold, regardless of the time it takes to make the sale

Which of the following correctly describes the accounting for advertising costs?

A) Advertising costs are product costs and are expensed as incurred. B) Advertising costs are period costs and are expensed as incurred. C) Advertising costs are product costs and are expensed when the manufactured product is sold. D) Advertising costs are period costs and are expensed when the manufactured product is sold.

When a class of creditors does not approve of a plan of reorganization under Chapter 11, the

court can order the plan into effect: A) Using the equity method. B) Using the secured creditor's method. C) Only if the plan is modified so that all classes of creditors consent. D) Using the cram down method.