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Introductory Lesson III

Authored by l’ argent

Business

9th - 12th Grade

Used 1+ times

Introductory Lesson III
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12 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Fixed assets have a life expectancy of over a year

True

False

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Liabilities could be referred to as:

Payment responsibility

Benefit or resource

Property

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Fixed expenses is like a salary (must pay) while variable expenses is like marketing expenses (often changes)

True

False

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following is NOT an example of current assets

Accounts receivable

Marketable securities

Land

Inventory

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Liability can be considered as

A claim against a company's assets

A source of company's assets

all other options

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Long term liability differs from current liability in that; long term's obligation is not payable within one year of balance sheet

True

False

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Types of expenses

operating

non-operating

fixed

variable

All other options

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