Question: 2 - 2 . Define current assets. What basis is used for ordering individual items within the current assets section? 2 - 3 . Distinguish

2-2. Define current assets. What basis is used for ordering individual items within the current assets section?2-3. Distinguish between long-term investments and property, plant, and equipment.2-4. How do current liabilities differ from long-term liabilities?2-5. Identify the two parts of stockholders equity in a corporation and indicate the purpose of each.2-8. Footwear Inc., needs to raise $500,000 to expand his companys operations. He has been told that raising the money through debt will increase the riskiness of his company much more than issuing stock. He doesnt understand why this is true. Explain it to him.

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