Question

Assets and liabilities are important elements of a company’s financial position.
a. Define assets. Give three examples of assets other than cash that might appear in the balance sheet of
(1) American Airlines and
(2) A professional sports team, such as the Boston Celtics.
b. Define liabilities. Give three examples of liabilities that might appear in the balance sheet of
(1) American Airlines and
(2) A professional sports team, such as the Boston Celtics.



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  • CreatedApril 17, 2014
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