Property owned by an individual
CH-1.1 Assets & Liabilities

Quiz
•
Business
•
11th - 12th Grade
•
Medium
Robyn Sanders
Used 35+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Liability
Asset
Property
Net Worth
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The value of all assets minus the value of all liabilities.
Financial obligations
Assets
Net Worth
Property
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Debts and financial obligations (responsibilities).
Liabilities
Assets
Negative Net Worth
Property
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Examples of Liabilities include which of the following:
Loans, credit cards, and real property
Loans, mortgage, and credit cards
Loans, Art collection, and savings account
Mortgage, credit card, and real property
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Positive Net Worth is defined as:
assets are less that liabilities
liabilities are greater than assets
assets are equal to liabilities
assets are greater than liabilities
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Negative Net Worth is defined as:
Assets and liabilities are the same amount
Assets are less that liabilities
Liabilities are less that assets
Assets are greater than liabilities
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Examples of assets include:
Real Property, Car, and credit cards
Car, Jewelry, and Checking account
Art collection, Jewelry, and unpaid taxes
Real Property, Car loan, Jewelry
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