EQL211 1

Balance sheet is one of the three important financial statements.

• True

• False

Balance sheet reports assets, liabilities and ______.

• expenses

• shareholders' equity

Balance sheet provides a report of what the company owns and owes.

• True

• False

There are mainly _____ components of balance sheet.

• two

• three

Assets= liabilities + shareholders' equity

• True

• False

Assets are of ____ types.

• two

• three

Non-current assets are the assets that are expected to be sold over the next financial year.

• True

• False

Accounts receivable is a part of ______ assets.

• current

• non-current

The tenure of this deposit range between seven days to one year.

• True

• False

An intangible asset is an asset that is not physical in nature. 

• True

• False