Question: Classification of Assets and Liabilities Indicate the appropriate classification of each of the following as a current asset (CA), noncurrent asset (NCA), current liability (CL),

Classification of Assets and Liabilities Indicate the appropriate classification of each of the following as a current asset (CA), noncurrent asset (NCA), current liability (CL), or long-term liability (LTL).
________ 1. Inventory
________ 2. Accounts payable
________ 3. Cash
________ 4. Patents
________ 5. Notes payable, due in six months
________ 6. Taxes payable
________ 7. Prepaid rent (for the next nine months)
________ 8. Bonds payable, due in ten years
________ 9. Machinery

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