FABM 1 WEEK 5

1. It is the obligations of the company payable in money, goods, or services.

• Assets

• Accounts Receivable

• Liabilities

• Rent Expense

2. These are non-current tangible assets.

• Intangible Assets

• Liabilities

• Notes Receivable

• Property, Plant and Equipment

3. These assets are identifiable, non-monetary assets without physical substance.

• Accounts Receivable

• Intangible Assets

• Liabilities

• Notes Receivable

4. It is the claim of the owner also known as the capital.

• Owner’s Equity

• Rent Expense

• Cash

• Prepaid Expense

5. It is the most liquid asset and is the medium of exchange for business transactions.

• Assets

• Cash

• Accounts Receivable

• Intangible Assets