
balance sheet
Authored by Beverley Allen
Business
10th Grade
Used 7+ times

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14 questions
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1.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Give one reason why houses are generally considered a wealth-building asset.
Because it has a mortgage
A house is not a wealth-building asset.
A house is a wealth-building asset when it appreciates in value over time.
A house is not wealth-building asset it is a liability.
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Select the item which is a fixed asset
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The table below shows Claude's assets and liabilities. What is the total value of his liabilities?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define Net worth
The loss of value of an asset over time.
The difference between the total assets and total liabilities of an individual.
Assets that add to net wealth.
Money an individual or organization owes.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Whcih of the following consist of only assets?
Car, Bank Loan, Computer
Creditor, Debtors, Cash at Bank
Debtors. Cash at bank, Building
Cash in hand, cash at bank, creditors
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total value of assets less total value of liabilities. It represents the capital originally invested in the business (share capital) or the retained earnings / profits (reserves).
Liabilities
Assets
Equity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
They are long-term debts or borrowings payable after 12 months by the business. They include long-term bank loans and mortgages.
Long-term liabilities
Current liabilities
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