Search Header Logo

Finance

Life Skills

9th - 12th Grade

Finance
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a small-engine shop owner has a $250,000 mortgage and owes Farm Credit Service $30,000 for this year’s payment, what amount should be entered on the noncurrent liability line of the financial statement?

$30,000

$220,000

$250,000

$280,000

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Becky has a $500,000 mortgage on her land and buildings, and she owes Farm Credit Service $60,000 for this year’s mortgage payment, what amount should be entered on the current liability line of the financial statement?

$60,000

$440,000

$500,000

$560,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a welding shop has total assets of $500,000 and total liabilities of $300,000, what amount would be the correct entry on the net worth line of a financial statement?

$200,000

$300,000

$500,000

$800,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A financial statement lists mortgages due after the current year as:

current assets

current liabilities

noncurrent assets

noncurrent liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a business has $10,000 cash on hand, $25,000 in a checking account, and land valued at $300,000, on which line of a financial statement should the $335,000 total be entered?

net worth

total assets

total liabilities

current assets

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After a student has evaluated his or her own interests and has narrowed the field of jobs, then the student should:

apply for a job

go for a job interview

complete a job application

study the job requirements of the job

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a tractor dealer’s inventory shows supplies worth $41,000 and land valued at $200,000, what amount should be entered on the nondepreciable inventory line of the financial statement?

$400

$41,000

$200,000

$241,000

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?