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Worksheets

Asset or Liability Quiz

Total questions: 16

Worksheet time: 8mins

Name
Class
Date
1.

Classify a car that is financed through a loan.

a)

Liability

b)

Asset

2.

Classify a house that you own without any mortgage.

a)

Liability

b)

Asset

3.

Classify the monthly premiums for life insurance.

a)

Liability

b)

Asset

4.

Classify credit cards that are fully paid off each month.

a)

Liability

b)

Asset

5.

Classify a profitable business that you own.

a)

Liability

b)

Asset

6.

Classify intellectual property that generates regular royalty payments.

a)

Liability

b)

Asset

7.

Classify stocks that have lost value since purchase.

a)

Liability

b)

Asset

8.

Classify government bonds that you own.

a)

Liability

b)

Asset

9.

Classify cash under your mattress.

a)

Liability

b)

Asset

10.

Classify student loans that are currently being repaid.

a)

Liability

b)

Asset

11.

Classify a personal loan used for home improvement.

a)

Liability

b)

Asset

12.

Classify rental property that generates monthly income.

a)

Liability

b)

Asset

13.

Classify a savings account with a positive balance.

a)

Liability

b)

Asset

14.

Classify a mortgage on your primary residence.

a)

Liability

b)

Asset

15.

Classify a vehicle that you own outright.

a)

Liability

b)

Asset

16.

Classify a credit card debt with ongoing monthly payments.

a)

Liability

b)

Asset