Assets and Liabilities Quiz

Which of the following is considered an asset for Jose, the freelance app developer?

• Condo

• Credit card debt

• Store-financed home theater

• New car

What is a liability for Maria, the loan officer?

• Home mortgage

• Retirement account

• Bobblehead collection

• Copyrighted mobile app

Andrea, the college sophomore, has which of the following as an asset?

• Savings account

• Credit card balance

• $1,300 bank loan

• Car loan

What is Sam's profession?

• Analyst

• Retiree

• Engineer

• Doctor

Which of the following is a liability for Isabella?

• Savings account

• Inheritance

• College loans

• Company stock

What type of loan is listed as a liability for Henry?

• Boat loan

• Graduate school loan

• Co-signed loan

• Car loan

Which asset is common between Sam and Isabella?

• Car

• Savings account

• Company stock

• Credit card balance

Diagram showing Assets and Liabilities for Sam, Isabella, and Henry

• Sam has more assets than liabilities.

• Isabella has more liabilities than assets.

• Henry has equal assets and liabilities.

• Sam and Isabella have the same amount of assets.

What is one of Kunal's liabilities?

• Paid-off car

• Music royalties

• Home mortgage

• Guitar collection

Which of the following is an asset for Zoe?

• College loan

• Car loan

• Guitar collection

• Home-repair loan