Abbott Laboratories a major pharmaceutical company reported the following current
Abbott Laboratories, a major pharmaceutical company, reported the following current liabilities in its 2012 annual report (dollars in millions):


REQUIRED:
a. Briefly describe the transaction or event underlying each of the liabilities listed above.
b. What kinds of assets are expected to be used to meet these obligations?
c. Does Abbott plan in the foreseeable future to refinance any of these liabilities by issuing long-term debt? Explain.
d. Explain how proper management of these current liabilities can help Abbott improve its return onequity.
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