Unformatted text preview: ACCT 2101 CLASS EXERCISE DATE Name Section (9, 10, ll)
1. What are accounts payable?
2. What kind of an account is unearned income? What are two reasons that Intel has unearned income? 3. When we use the term accrued, What does that usually tell us about an account?
4. Why doesn’t Intel include accrued advertising in accounts payable?
5. What is the current ratio? Compute the current ratio for Intel for 2007 and 2006. 6. Why does Intel have long-term debt if they have plenty of cash to pay it off? 7. What is an example of a (l) commitment and (2) contingency? ...
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- Spring '08