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1) Discuss how are current liabilities related by definition to current assets? How

1) Discuss how are current liabilities related by definition to current assets? How

1) Discuss how are current liabilities related by definition to current assets? How are current liabilities related to a company’s operating cycle? 2) Discuss the
accounting treatment or disclosure that should be accorded a declared but unpaid cash dividend; an accumulated but undeclared dividend on cumulative preferred
stock; a stock dividend distributable. 3) Discuss how is the present value related to the concept of a liability? 4) How are the terms “probable,” “reasonably
possible,” and “remote” related to contingent liabilities? Discuss. 5) What factors must be considered in determining whether or not to record a liability for
pending litigation? For threatened litigation? Discuss.

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