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February 24, 2021
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February 24, 2021

Place an “X” in the appropriate classification for each balance sheet item listed below.

Short-Term
Asset

Long-Term
Asset

Short-Term
Liability

Long-Term
Liability

Payroll taxes due

Accounts receivable

Land

Mortgage payable
(non-current)

Buildings

Note payable
(due in 24 months)

Inventory

Accounts payable

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.
Required
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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