Assets & Liabilities Quiz

Which of the following is considered a current asset?

• Land

• Inventory

• Equipment

• Buildings

Which of the following is a non-current asset?

• Cash

• Accounts Receivable

• Machinery

• Prepaid Expenses

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

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

• Mortgage Payable

• Bonds Payable

• Accounts Payable

• Equipment

Which of the following is NOT a type of asset?

• Tangible Assets

• Intangible Assets

• Current Assets

• Deferred Liabilities

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

• Cash

• Inventory

• Patents

• Accounts Receivable

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

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

• Long-term Loans

• Deferred Tax Liabilities

• Short-term Loans

• Goodwill

Which of the following is a type of intangible asset?

• Inventory

• Buildings

• Trademarks

• Vehicles

Which of the following is NOT a current liability?

• Accounts Payable

• Short-term Loans

• Accrued Expenses

• Long-term Debt