1. Explain what you know about unearned and give 2 reasons why accountants dont keep such money as part of company assets. 2. Explain how a long-term liability may also have current liability component. 3. Can a company have liabilities on its employees? Explain how and give 3 examples. 4. What is the difference between account payable and note payable? 5. What are the three important information we need in calculating payment of loan liability