Understanding Assets

Understanding Assets

6th Grade

15 Qs

quiz-placeholder

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Understanding Assets

Understanding Assets

Assessment

Quiz

English

6th Grade

Hard

Created by

avinshawn rodrigues

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an asset?

An asset is a temporary resource that has no economic value.

An asset is a type of debt owed by an individual or entity.

An asset is a resource with economic value owned by an individual or entity.

An asset is a liability that decreases in value over time.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Can you name three types of assets?

Real Estate, Stocks, Bonds

Cash, Commodities, Art

Mutual Funds, Derivatives, Currency

Insurance, Gold, Collectibles

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are assets important for individuals?

Assets are only important for businesses.

Assets provide financial security and enable wealth accumulation.

Assets are primarily for tax evasion purposes.

Assets do not affect an individual's financial situation.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do assets differ from liabilities?

Assets are always more valuable than liabilities.

Assets are what a company owns; liabilities are what a company owes.

Liabilities are what a company invests in; assets are what a company spends.

Assets are what a company owes; liabilities are what a company owns.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed asset?

A fixed asset is an intangible resource used for marketing.

A fixed asset is a short-term investment.

A fixed asset is a long-term tangible asset used in business operations.

A fixed asset is a type of liability.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a current asset?

An asset that cannot be converted into cash within a year.

A current asset is an asset expected to be converted into cash or used up within one year.

An asset that is expected to last more than five years.

An asset that is only used for long-term investments.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Give an example of a tangible asset.

Bonds

Stocks

Real estate

Machinery

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