Identify an example of a non-current asset. O a. Machinery O b. Bank overdraft O c. Inventory d. Loan

Which one of the following options is correct about current assets Select one: a. Current assets are long term assets b. Current assets are not recorded inside the balance sheet rather in the notes section. c. Account receivable & cash are current assets d. Current assets are depreciable.

Assets that can be easily converted into money without loss of value are Select one: O A. liquid. O B. liabilities. O C. transactions balances. OD. currencies.

The common characteristic possessed by all assets is a. Great monetary value b. Tangible nature Oc. Future economic benefit Od. Long life

How do you decide the liquidity order (what asset come before the other...expenses vs prepaid vs inventory) of current assets?

Residual interest in the asset of an entity that remains after deducting its liabilities is? a. Liabilities b. Expense c. Owner’s Equity d. Assets

Brad's BBQ reported sales of $660,000 and net income of $41,000. Brad's also reported ending total assets of $491,000 and beginning total assets of $384,000. Required: Calculate the return on assets, the profit margin, and the asset turnover ratio for Brad's BBQ. Return on Assets Choose Numerator Choose Denominator Return on Assets Return on assets %3D Profit Margin Choose Numerator Choose Denominator Profit Margin Profit margin %3D II II

Allowance for Uncollectible Accounts is An Asset A Liabilitity An Expense A Contra-Asset