Financial Assets
The following financial assets appeared in a recent balance sheet of Apple Computer, Inc. (dollar amounts are stated In millions)
Cash and cash equivalents . | $ 5,263 |
Marketable securities (short-term investments) . | 18,201 |
Accounts receivable (net ofallowance for doubtful accounts of$52) | 3,361 |
a. Define financial assets.
b. A different approach is used in determining the balance sheet value for each category of Apple Computer's financial assets, although each approach serves a common goal. Explain.
c. Why docompanies like Apple Computer hold somuch oftheir financial assets in the form of marketable securities and receivables?
d. What types of investments might Apple Computer own that are considered cash equivalents?
e. Explain what is meant by the balance sheet presentation of Apple Computer's Accounts Receivable as shown in the table.
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