Asset Or Liability? Take This Quiz To Find Out!

6 Questions

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Asset Or Liability? Take This Quiz To Find Out!

If you work in accounting, you must know that assets have the ability to increase companies going concern, whereas liabilities are those things that represent money to be laid out. Take up the trivia quiz below and see how well you differentiate the two based on the above definition and what we covered in class. All the best!


Questions and Answers
  • 1. 
    Buying a car.
    • A. 

      Asset

    • B. 

      Liability

  • 2. 
    Buying a house.
    • A. 

      Asset

    • B. 

      Liability

  • 3. 
    A Camera.
    • A. 

      Asset

    • B. 

      Liability

  • 4. 
    Buying a house for you to rent out
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Cant really tell

  • 5. 
    A camera for a photographer.
    • A. 

      Asset

    • B. 

      Liability

  • 6. 
    Children?
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Depends

    • D. 

      I dont know

    • E. 

      All of the above