As mentioned in class, we will discuss liabilities as one topic, effectively combining ch. 9 and ch. 10. However you are not responsible for much of the technical detail in ch. 10. In particular, you will not be asked to understand or prepare calculations or journal entries related to bonds, finance leases or pension plans. You need only understand what each of these items is, and why it is difficult to account for. I would recommend that you read the following pages from ch. 10: the beginning of the chapter, down to the bottom of page 448. You should understand what a (cid:271)o(cid:374)d is, a(cid:374)d how it is si(cid:373)ilar to/differe(cid:374)t fro(cid:373) a loa(cid:374) or (cid:373)ortgage.