Which of the following would not be an acceptable presentation on the statement of financial...

Which of the following would not be an acceptable presentation on the statement of financial condition?

1. A car may be presented at cost.

2. Payables and other liabilities are presented at the discounted amounts of cash to be paid.

3. Investments in real estate should be presented at their estimated current values.

4. The liability for income taxes payable should include unpaid income taxes for completed tax years and an estimated amount for income taxes accrued for the elapsed portion of the current tax year to the date of the financial statements.

5. All of the above