What do balance sheets measure?

• Health of a business or individual
• Structure of a business

What is an asset?

• What you own
• What you owe
• Prize possession

Which is an example of an asset?

• Land
• Bank Loan
• Note

What is a liability?

• What you owe
• What you own

What is an example of a liability?

• Charge account
• Land
• Market Steer
• Pickup

What is the owner's equity?

• Net worth
• Asset
• Liability
• Current

Liquidity is the same as what financial term?

• Current
• Non-current
• Asset
• Liability

What is a current asset?

• Can be sold without affecting long term profit generating capacity
• Can't be sold without affecting long term profit generating capacity

What is an example of a current asset?

• Bank account balance
• Credit card bill
• Land
• Tractor

What is the length of time current covers?

• 0-12 months
• 12+ months
• 36+ months
• 24+ months