Response to the following questions:
1. Classify the following assets as (1) current assets, (2) plant assets, or (3) intangible assets: (a) land used in operations, (b) office supplies, (c) receivables from customers due in 10 months, (d) insurance protection for the next 9 months, (e) trucks used to provide services to customers, (f) trademarks.
2. Cite at least two examples of assets classified as investments on the balance sheet.
3. Explain the operating cycle for a service company.