L204.5 Revision

Which of the following is an Asset ?

• Book Borrowed from a Friend

• Car Given to Friend on Rent

• Savings bank account

• Giving house on Rent

• Unused Netflix Account

Find out the Liabilities from the options

• Going out on a vactaion

• Buying a Car

• Bank Loan

• Giving your book on rent

Ethan is going to watch movies with his friends. He is having a cash .........................

• Inflow

• Outflow

• Balance

• Shortage

Real Assets take money from your pocket.

• True

• False

Hema's parents have a Netflix account, but they rarely use it. It is going to waste. Here the Netflix Account is .................................

• Real Liability

• Real Asset

• Real Problem

• Real Solution