Record Keeping

______ something tangible of value that a person owns.

• Liability

• Asset

_______ Items quickly converted to cash or that will be sold within 12 months

• Non-Current Asset

• Non-Current Liability

• Current Liability

• Current Asset

_____ Items that have a useful life of more than one year.

• Non-Current Asset

• Current Liability

• Non-Current Liability

• Current Asset

cash, checking, savings, stocks, livestock are examples of what

• Current Asset

• Non-current assets

• Current liability

• non-current liability

Land, machinery, breeding livestock are examples of what?

• Non-current liabilities

• current assets

• Non-current asset

• Current Liabilities

________ is debts

• Liability

• Assets

_______ are debts that are due to be paid this year.

• Non-current liabilities

• Current Assets

• Current Liabilities

• Non-current assets

________ Debts not due this year.

• non-current liabilities

• current assets

• non-current assets

• current liabilities

mortgages not including this years payment is an example of ?

• Current liabilities

• non-current assets

• current assets

• non-current liabilities

fertilizer, feed bills, tractor and building payments are examples of what?

• current liabilities

• non-current liabilities

• current assets

• non-current assets