PBM: Assets vs. Liabilities

Front

What is something that represents a financial benefit you possess?

Back

asset

Front

What are obligations you must pay?

Back

liabilities

Front

Daniel has some MONEY IN A SAVINGS ACCOUNT. What does this represent for him?

Back

asset

Front

Jackson is considering his financial situation and is listing down his assets and liabilities. He has a car loan. How should he categorize the car loan?

Back

liability

Front

Isla bought a new DIRT BIKE for her weekend adventures. How should this purchase be classified in her personal finances?

Back

asset

Front

Aria is renting an apartment. How should the rent be classified in her financial statements?

Back

liability

Front

Aiden received his monthly CREDIT CARD BILL

Back

liability

Front

Luna is learning about finance in her class. Her teacher explains that a STOCK represents a share in the ownership of a company and is considered an:

Back

asset

Front

Mason is evaluating his financial portfolio. He is considering the value of his home. How should he categorize the home value? Options: asset, liability

Back

asset

Front

What type of financial obligation is a CELL PHONE BILL?

Back

liability