Place an “X” in the appropriate classification for each balance sheet item listed below.
Payroll taxes due
(due in 24 months)
Cash on hand
Assignment Exercise 3–1: Assets and Liabilities
Review the chapter text about assets and liabilities and Exhibits 3-1 and 3-2.
1. Find three separate references to assets and to liabilities in health care organizations in published news sources such as The Wall Street Journal or Business Week.
2. Based on this information, comment on whether the assets and/or liabilities that you have found appear to be current (short-term) or long-term. What led you to believe this?
3. If you were the author of these articles, would you have been more specific? If so, why? If not, why not?
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