Assets and Liabilities- Fossum

Which of the following is an asset?

• My car I own

• Savings Account

• credit card bill

• Stocks

Which of the following are considered assets?

1. A Car

2. Student Loans

3. Rent Payments

• 1 only

• 1 and 2 only

• 2 and 3 only

• 1, 2, and 3 only

Which of the following are considered liabilities?

1 - A Mortgage

2 - Kitchen Dishes

3 - A Car Loan

• 1 only

• 1 and 2 only

• 1 and 3 only

• 1, 2, and 3

$8,235 owed on a credit card

• Asset

• Liability

Estimated home value of $233,00

• Asset

• Liability

Which of the following is not an asset?

• Car

• House Value

• House Mortgage

• Jewelry

Which of the following is not a liability?

• Stock

• Credit Card Balance

• Car Loan

• Mortgage

Property owned by an individual

• Liability

• Asset

• Property

• Net Worth

Examples of Liabilities include which of the following:

• Loans, credit cards, and real property

• Loans, mortgage, and credit cards

• Loans, Art collection, and savings account

• Mortgage, credit card, and real property

Examples of assets include:

• Real Property, Car, and credit cards

• Car, Jewelry, and Checking account

• Art collection, Jewelry, and unpaid taxes

• Real Property, Car loan, Jewelry