Question 1. What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or long-term? How can misclassification of current liabilities be used to cover fraud within an organization.
Question 2. What is a bond? What are some features of a bond? How do you value bonds? What factors can affect that value?
Question 3. In Terms of the Income Statement, What is the Effect of Using Different Depreciation Methods?