balance sheets

______________-are anything of of value owned, such as cash, buildings.

• Liabilities
• Assets
• Income Statement
• Statement of Cash Flows

If Liabilities are more than the Assets, the Business's financial condition is not strong.

• True
• False

An overdraft is a:

• Current Asset
• Current Liability
• Non Current Asset
• Non Current Liability

A building is a:

• Current Asset

• Current Liability

• Fixed Asset

• Long term Liability

A mortgage is a:

• Current Asset
• Current Liability
• Non Current Asset
• Non Current Liability

A business' inventory is a:

• Current Asset

• Current Liability

• Fixed Asset

• Non Current Liability

Which of the following is a current asset?

• Accounts Payable

• Stock

• Overdraft

• Vehicle

Which of the following is a current liability?

• Accounts Receivable
• Cash
• Overdraft
• Vehicle

Which of the following is a Fixed asset?

• Building

• Accounts Payable

• Accounts Receivable

• Mortgage

Which of the following is a long term liability

• Overdraft

• Accounts Payable

• Mortgage

• Goodwill