Discussion questions:
1. How are current liabilities related by definition to current assets?
2. How are current liabilities related to a company's operating cycle?
3. Differentiate between term bonds, mortgage bonds, debenture bonds, income bonds, callable bonds, registered bonds, bearer or coupon bonds, convertible bonds, commodity-backed bonds, and deep discount bonds.
4. What is the time value of money?
5. Why should accountants have an understanding of compound interest, annuities, and present value concepts?
6. What is the "the rule of 72"?
7. List some characteristics or examples of "the rule of 72".