Refer to CVS Corporations annual report in the Supplement to Chapter 5 to answer the following questions:

Question:

Refer to CVS Corporation’s annual report in the Supplement to Chapter 5 to answer the following questions:

1. What amount of cash and cash equivalents did CVS Corporation have in 2008? Do you suppose most of that amount is cash in the bank or cash equivalents?

2. What customers represent the main source of CVS’s accounts receivable, and how much is CVS’s allowance for uncollectible accounts?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...