
Understanding Assets and Resources

Quiz
•
others
•
1st Grade
•
Hard
Sazali Shafie
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of an asset?
An asset is a type of debt that must be repaid.
An asset is a liability that incurs future costs.
An asset is a temporary resource with no economic value.
An asset is a resource owned by an individual or entity that is expected to provide future economic benefits.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are assets generally classified?
Fixed assets and liquid assets
Current assets and non-current assets
Tangible assets and intangible assets
Operational assets and financial assets
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of current assets?
Liquidity and short-term conversion to cash.
Low risk and high interest rates
Inflexibility and long-term conversion to cash
High profitability and long-term investment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a tangible asset?
Equipment
Real estate
Cash
Inventory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of asset is cash considered?
Intangible asset
Liquid asset
Non-liquid asset
Fixed asset
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an intangible asset?
A type of liability that reduces a company's worth.
An asset that has no value to a business.
An intangible asset is a non-physical asset that provides value to a business.
A tangible asset that can be physically touched.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do fixed assets differ from current assets?
Fixed assets are used for trading, current assets are for investment.
Fixed assets are long-term, current assets are short-term.
Fixed assets are always liquid, current assets are illiquid.
Fixed assets have a lifespan of one year, current assets last indefinitely.
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