
BALANCE SHEETS
Quiz
•
Business
•
2nd - 3rd Grade
•
Hard
Vuso Manhota
Used 3+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is balance sheet?
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
A Balance sheet is one of a company's core financial sheet that shows their profit and lossProfit and Loss
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one is not belongs to liability?
Mobile Phone Bill
Bank Loan
Bank Balance
Owed To Friends
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Dose expense in the liability/Assets account?
Assets
Liability
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Property owned by an individual
Liability
Asset
Property
Net Worth
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The value of all assets minus the value of all liabilities.
Financial obligations
Assets
Net Worth
Property
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Debts and financial obligations (responsibilities).
Liabilities
Assets
Negative Net Worth
Property
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
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