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WorksheetsBalance sheet
Total questions: 15
Worksheet time: 75secs
What is a balance sheet?
A statement of the financial condition of a business on a specific date.
Statement of the condition of a bisnes on a date.
A estatement of the condition of a busines on a specific date.
Estatement of the financial condition of a business.
Who is the person who assumes the responsibility of accounting?
An architect
A cleaner
A lawyer
An accountant
What is the balance sheet formula?
Asets = Libilities + Equity
Assets = Liabilities + Equity
Liabilities = Equity + Assets
Accets = Liabilities + Ecuaity
The balance sheet accounts are also known...
Permanente or real akounts.
Permanent or real accoun.
Permanent or real accounts.
Accounts or real permanent.
What are assets?
By a busines resources own
Resources owned by a business
Resurces owned by a bisiness
Resources own by a bisnes
Examples of assets:
Cash, accounts receivable, supplies, inventory...
Cash, accounts recavable...
Accounts receivable, suplis, inventory...
Inventor, cash, acounts receivable...
How are assets organized?
Liquid asets and nonliquid asets.
Non-liquid assets y Liquid assets.
Non liquid acets and liquid acets.
Liquid assets and non-liquid assets.
What are liquid assets?
Assets that are easily turned into cash.
Asets are easily turned into mony.
Assets that are turn into cash
Asets tat are isily turned in to cash
What are non-liquid assets?
Cannot quickly be convert to cash.
Cant quick be converted to cash.
Can not quickly be converted to cash.
Can no quickly convert to cash.
Why is the importance of this financial statement?
For to have Liqaidity, Leverage, Eficiency, and Retes of Return.
Because, to have liquidity, leverage, efficiency, and rates of return.
Cause, to have Liquidity, Leverage, Eficiency, and Rates of Return.
Be cause, to have liqaidity, leverage, eficiency, and rates of return.
What are liabilities?
Oll the firms debts
All the firms debts
Company owes
Owes compañy
Examples of liabilities:
Acounts payable, costomer deposits...
Accounts payable, customer deposits...
Coostomer deposits, aconts payable...
Custumer deposits, accounts payable...
What is equity?
Retain earnings are use to pay down debt or are other wise reinvested in the business.
Retained earnings are used to pay down debt or are otherwise reinvested in the business.
Retained earnings are used to pay down debt or are otherwise reinvested in the bisness.
Retained earnings are use to pay down debt or are other wise reinvest in the business.
What are retained earnings used for?
To pey debts or reinvest in the bisnes.
To pay deebts in the business.
Pay deebts or reinveest in the busines.
To pay debts or reinvest in the business.
What is the net worth?
How much of your busines you kip.
How much of your business you kip, (What's left after liabilities are peid).
How much of you business you keep.
How much of your business you keep, (What's left after liabilities are paid).
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