Classifi cation of Assets and Liabilities Indicate the appropriate classifi cation of each of the following as a current asset (CA), noncurrent asset (NCA), current liability (CL), or long-term liability (LTL).

________ 1. Inventory ________ 2. Accounts payable ________ 3. Cash ________ 4. Patents ________ 5. Notes payable, due in six months ________ 6. Taxes payable ________ 7. Prepaid rent (for the next nine months)

________ 8. Bonds payable, due in ten years ________ 9. Machinery AppendixLO1