COMPANY: APPLE

1. The "Commitments and Contingencies" disclosure note from the financial statements may provide valuable information related to off-balance financing and other complex financing arrangements. Unquantified business operations can pose as potential liabilities or litigations that can affect a firm in the future.

2. For your selected company, identify any potential liabilities from the "Commitments and Contingencies" note. Review the information and explain why this information was determined to be a potential liability. From a managerial perspective, how would you respond?