4.4. a. What makes an asset a current asset?

b. Provide some examples of current assets. c. What is net working capital, and what does it measure?

4.5. a. On the balance sheet, what is the difference between long-term investments and property and equipment?

b. What is the difference between gross fixed assets and net fixed assets?

c. How does depreciation expense on the income statement relate to accumulated depreciation on the balance sheet?