Financial Literacy Quiz

Which of the following is a long-term liability?

• Your credit card bill to be paid next month

• 200 yuan you owe your colleague for meals

• A 30-year mortgage loan for your house

• Employee salaries to be paid this month

What is the definition of a current liability?

• A liability that is not easily converted to cash

• A liability that is expected to be paid off within a year

• A liability that is not owned by the company

A loan that a company has to repay to a bank over a period of seven years is a long-term liability.

• True

• False

Money that a company keeps in one of its bank accounts is a liability.

• True

• False

Which of the following is a fixed asset?

• Inventory

• Deposit

• vehicle

• cash

You buy a laptop for study with a student loan that needs to be repaid in 5 years. This loan is?

• Current liability

• Long-term liability

• Current asset

• Fixed asset

A 3-year fixed deposit in your bank is a fixed asset.

• True

• False

The secret recipe and exclusive bubble tea flavor for your bubble tea shop are intangible assets.

• True

• False

You open a bubble tea shop. Which of the following is a current asset?

• The ice machine in the bubble tea shop

• Raw materials like tapioca pearls and coconut jelly in the warehouse

• Store decoration of the bubble tea shop

• The brand trademark of your bubble tea shop

Which of the following is an intangible asset？

• The social media followers and brand IP of your online store

• Inventory stock in your online store warehouse

• Boxes used for packaging deliveries in your online store

• Vans used for shipping deliveries