Question 1: How are current assets defined and list 6 examples of Current Assets? What decides the length of a company's operating cycle?
Question 2: What is Comprehensive Income and provide a Journal Entry example to record comprehensive Income? How is it reported?
Question 3: Briefly explain the difference between personal allowances calculated using the "Personal Allowances Worksheet" on Form W-4 and the personal exemption allowance deducted on an individual's Form 1040. Why do these differ?