Assets & Liabilities Quiz

Assets & Liabilities Quiz

12th Grade

10 Qs

quiz-placeholder

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Assets & Liabilities Quiz

Assets & Liabilities Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

Abdullah Zaman

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a current asset?

Land

Inventory

Equipment

Buildings

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a non-current asset?

Cash

Accounts Receivable

Machinery

Prepaid Expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary characteristic of current liabilities?

They are due within one year

They are due after one year

They are not recorded on the balance sheet

They are always interest-free

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a current liability?

Mortgage Payable

Bonds Payable

Accounts Payable

Equipment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a type of asset?

Tangible Assets

Intangible Assets

Current Assets

Deferred Liabilities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a non-current asset?

Cash

Inventory

Patents

Accounts Receivable

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of non-current assets?

They are expected to be converted to cash within one year

They are used in the operations of a business for more than one year

They are always liquid

They are always intangible

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