Question: 1. How are current liabilities related by definition to current assets? How are current liabilities related to a companys operating cycle? 2. How does unearned

1. How are current liabilities related by definition to current assets? How are current liabilities related to a companys operating cycle?

2. How does unearned revenue arise? Why can it be classified properly as a current liability? Give three examples of business activities that result in unearned revenues.

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