What are accrued liabilities? What is commercial paper? (p. 721) Why did Syntel Microsystems include some long-term debt in the current liability section? Did they also report some current amounts as long-term debt? Explain. (p. 728) Must obligations be known contractual debts in order to be reported as liabilities? (p. 731) Is it true that current liabilities are riskier than longterm liabilities? (p. 742)