Finance Unbox-ED ($) - Grade 6-8 - Session 005 - Quiz 1

Select all the statements that are true

• Assets are things we own and can sell
• Assets are things we can use to earn money
• Liabilities are things we owe to someone and need to pay back
• All of the above

Select all the items that are tangible assets

• Patents
• Television
• Laptop
• Brands

Select the statement that is true

• One person's liability is always another person's asset
• One person's asset is always another person's liability

Assets always go up in value

• True
• False

Select all the assets that are expected to go down in value as we use them

• House
• Car
• Laptop
• Gold