True or False?

Capital can include computers, desks, vehicles, furniture and property.

The accounting term used for the possessions of the business that have monetary value.

The accounting term for the debts of the business.

The accounting term for the costs of running the business.

A plan of how much money you expect to receive and how you expect to spend the money.

Property owned by an individual is a/n...

Debts and financial obligations (responsibilities).

Examples of liabilities include the following:

Which of the following is considered a liability?

What is something you already own (positive cash value)?

What is debts you owe (negative cash value)?

Money in a savings account is classified as:

A car loan requiring monthly repayments is classified as:

A dirt bike in your garage is classified as:

A credit card bill that you receive at the end of the month is classified as:

Current Assets are described as:

These are examples of current liabilities

Stationery is an example of an asset

A person the business owes money to:

When the owner gives money to start a business it is called...

Choose the odd one out:

Money kept in the till for making small payments:

Money kept in the till used to give change to customers:

People who owe the business money:

Cars, computers and buildings, these are examples of:

Which type of capital applies to the following:

The goods used to produce other goods e.g. machinery and tools.

Which type of capital applies to the following:

Money needed to run the business from day to day.

Which type of capital applies to the following:

Money needed to start a new business.

Inventory or stock is classified as: