Q.1.
Cash is listed asA = AssetsL = LiabilitySE = Stockholders Equity
Q.2.
Equity is the
Q.3.
Retained Earnings is
Q.4.
Liabilities
Q.5.
On a balance sheet, if total assets are $15,and Total Liabilities are $10, Owner's Equity will equal:
Q.6.
A balance sheet has four sections: 1)heading 2)assetsliabilities and 4)
Q.7.
Non current liability are financial obligations that are due for settlement within 1 year. True or False
Q.8.
Which of the following is a Non current asset?
Q.9.
Current Assets are cash or other assets that are expected to be converted to cash within a year
Q.10.
Which of the following is considered a liability?
Q.11.
Which of the following is considered an asset?
Q.12.
A _______________ is a resource that is owned by a business.
Q.13.
Net Worth if equal to:
Q.14.
Dose expense in the liability/Assets account?
Q.15.
Which item do we always begin the preparation of the balance sheet with?
Q.16.
Net Assets = Total Assets -
Q.17.
Select the item which is not a component of a balance sheet.
Q.18.
Select which two items we use when we are calculating the Net Assets/ Working Capital
Q.19.
Calculate the total assets?Current Assets - $100.00Fixed Assets - $200Current Liabilities -$300Capital - $100
Q.20.
Whcih of the following consist of only assets?