Balance Sheet Made Simple

5 Questions | Total Attempts: 227

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Balance Sheet Made Simple

This quiz tests knowlwdge about the Annual Balance Sheet.


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Questions and Answers
  • 1. 
    What is an asset?
    • A. 

      A possession with monitary value

    • B. 

      A liability

    • C. 

      A debt

    • D. 

      Apossession without monitary value

  • 2. 
    What is a liability
    • A. 

      A possession

    • B. 

      A debt

    • C. 

      A picture

    • D. 

      A motorcar

  • 3. 
    Money used to start a business is called ?
  • 4. 
    Another name for money is ?
  • 5. 
    Goods bought for resale is called?
    • A. 

      Cash

    • B. 

      Loan

    • C. 

      Stock

    • D. 

      A liability