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Asset: Quiz

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Question 1: Tangible assets are those that have a physical substance and can be touched, such as currencies, ________, real estate, vehicles, inventories, equipment and precious metals.
HouseKitchenBasementBuilding

Question 2: In a company's ________ certain divisions are required by generally accepted accounting principles (GAAP), which vary from country to country.
AssetEquity (finance)AccountancyBalance sheet

Question 3: [4] Current assets include inventory, while fixed assets include such items as ________ and equipment.
BuildingBasementKitchenHouse

Question 4: The inventory value reported on the ________ is usually the historical cost or fair market value, whichever is lower.
Equity (finance)AssetBalance sheetAccountancy

Question 5: Different forms of ________ may also be treated as long term investments.
Marine insuranceWorkers' compensationLife insuranceInsurance

Question 6: They are written off against profits over their anticipated life by charging ________ expenses (with exception of land assets).
Amortization (business)DepreciationBook valueGoodwill (accounting)

Question 7: ________ — trading these assets is a normal business of a company.
AccountancyBalance sheetThroughput AccountingInventory

Question 8: The accounting equation is the mathematical structure of the ________.
AssetAccountancyEquity (finance)Balance sheet

Question 9: This group includes as an asset land, ________, machinery, furniture, tools, and certain wasting resources e.g., timberland and minerals.
BasementBuildingKitchenHouse

Question 10: Examples of intangible assets are goodwill, copyrights, trademarks, patents and ________,[5] and financial assets, including such items as accounts receivable, bonds and stocks.
Programming languageComputer softwareProgramming paradigmComputer program







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