2.03 Statement of Financial Positions Note Taking Guide

Quiz
•
Life Skills
•
9th - 12th Grade
•
Medium
Used 53+ times
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you increase net worth
Decrease assets
Increase assets
Increase liabilities
Increase assets and liabilities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often is it recommended to create a Statement of Financial Position
Four times per year
Three times per year
Two time a year
Once per year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a liability
Everything a person owns
assets that will generate money
what is owed to others
an individuals financial condition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of assets can be quickly converted into cash
monetary
tangible
investment
liable
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of assets refers to property purchases to create a lifestyle or improve your life
monetary
tangible
investment
liable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of assets are purchased with the hope they will generate income and appreciate in value
monetary
tangible
investment
liable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is net worth calculated
Assets + Liabilities
Assets + Net Worth
Assets - Liabilities
Net Worth - Liabilities
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