7. Working capital is < a. capital which has been reinvested in the business < b. unappropriated retained earnings < c. cash and receivables less current liabilities < d. none of these choices are correct 8. Non-current liabilities include < a. obligations not expected to be liquidated within the next year or operating cycle. < b. obligations payable at some date beyond the next year or operating cycle. < c. deferred income taxes and most lease obligations. < d. All of these choices are correct. < 1