ANS II Assets/Liabilities 2-5

Which of these depreciates? (Choose 2)

• Land

• Animal Feed

• Vehicles

• Machinery

Which one of these depreciates? (pick 1)

• A tractor

• potting soil

• chickens

• a jar of mayonnaise

Which of these is a current asset? (pick 2)

• mortgage

• $20 in your wallet

• A truck

• money in a savings account

Which of these is a current liability? (pick 2)

• phone bill

• instructional supply fee at school

• 15 year mortgage

• 3 year car loan

Which one of these is a non-current liability?

• 4 year car loan

• phone bill

• cable bill

• prom ticket cost

Which one of these is a non-current asset?

• 5 acres of land

• $500 in the bank

• 1000 shares of stock in Microsoft

• A market hog

Net worth =

• total liabilities - current assets

• total assets - non-current liabilities

• non-current assets - current assets

• total assets - total liabilities

Inventory is:

• A list of stuff a business has

• the same as total assets

• total liabilities / total assets

• none of these are correct

Which of these non-current assets doesn't depreciate?

• mayonnaise

• vehicles

• vet supplies

• land

WHY do certain non-current assets depreciate (select all that apply)

• they wear out

• they become out of date (obsolete)

• they just get old

• They aren't mayonnaise