What do assets on a balance sheet represent?
Financial statements: Balance sheet vs Income statement

Quiz
•
English
•
University
•
Medium
Joana Obrien
Used 6+ times
FREE Resource
25 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Ownership
Liabilities
Expenses
Employee's income
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
How are assets categorized on a balance sheet?
Into revenue and expenses
Into liabilities and equity
Into current and non-current assets
Into cash and inventory
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are examples of current assets?
Long-term debts
Patents, trademarks
Cash, inventory, accounts receivable
Property, plant, equipment
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the total assets line on a balance sheet?
The total expenses
The sum of current and non-current assets
The sum of current and non-current liabilities
The total revenue
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What do liabilities represent on a balance sheet?
Short term expenses incurred by the company
Income generated by the company
What the company owes
Assets owned by the company
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What are examples of current liabilities?
Accounts payable, due within a year
Cash, inventory
Marketing expenses, administrative costs
Accounts payable, long-term debts
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
How is shareholders' equity calculated?
By dividing assets by liabilities
By subtracting assets from liabilities
By substracting liabilities from currents assets
By subtracting liabilities from assets
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