B4- Assets and Liabilities

Debtors are

• People we owe money

• People that owe us money

Property is an example of

• Current asset

• Fixed asset

• Current liability

• Long term liability

Overdraft is an example of

• Current asset

• Fixed asset

• Current liability

• Long term liability

Cash in the bank is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

A bank loan is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

Creditors is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

Machinery is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

Stock is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

A mortgage is an example of a

• Current asset

• Fixed asset

• Current liability

• Long term liability

Current means......

• Within 6 months

• within a year

• Longer than 6 months

• Longer that a year