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WorksheetsBalance Sheet
Total questions: 10
Worksheet time: 9mins
What is balance sheet?
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
A Balance sheet is one of a company's core financial sheet that shows their profit and lossProfit and Loss
Which one is not belongs to liability?
Mobile Phone Bill
Bank Loan
Bank Balance
Owed To Friends
Property owned by an individual
Liability
Asset
Property
Net Worth
The value of all assets minus the value of all liabilities.
Financial obligations
Assets
Net Worth
Property
Debts and financial obligations (responsibilities).
Liabilities
Assets
Negative Net Worth
Property
Examples of Liabilities include which of the following:
Loans, credit cards, and real property
Loans, mortgage, and credit cards
Loans, Art collection, and savings account
Mortgage, credit card, and real property
Positive Net Worth is defined as:
assets are less that liabilities
liabilities are greater than assets
assets are equal to liabilities
assets are greater than liabilities
Negative Net Worth is defined as:
Assets and liabilities are the same amount
Assets are less that liabilities
Liabilities are less that assets
Assets are greater than liabilities
Examples of assets include:
Real Property, Car, and credit cards
Car, Jewelry, and Checking account
Art collection, Jewelry, and unpaid taxes
Real Property, Car loan, Jewelry
Zero net worth is defined as:
Assets are greater than liabilities
Assets are less than liabilities
Assets are equal to liabilities
None of the above
