What is the primary purpose of a balance sheet?
Understanding the Balance Sheet: Assets and Goodwill

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To determine the tax liabilities
To list all expenses and revenues
To show the financial position of a company
To calculate the net profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a strong balance sheet?
High levels of bad debt
A large number of intangible assets
High levels of raw materials
A lot of good assets and low amounts of bad debt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is considered a 'bad asset'?
Cash
Marketable securities
Finished goods inventory
Raw materials
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does goodwill arise on a balance sheet?
Through depreciation
When a business pays more than the value of acquired assets
Through internal growth
By selling more products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a bargain purchase?
Buying assets at a discount
Selling assets at a premium
Acquiring a business for less than the value of its assets
Investing in marketable securities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are current assets?
Assets that are difficult to liquidate
Assets that are intangible
Assets that have a long economic life
Assets that are cash or convertible to cash within one year
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is working capital?
The investment required to meet production and customer demand
The amount of cash a company holds
The value of a company's liabilities
The total value of a company's assets
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