ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cash in your wallet
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The market value of your house
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The amount of money you will be paid next month
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Your prized stamp collection
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Detailed explanation-1: -Resources owned by a company (such as cash, accounts receivable, vehicles) are referred to as the Assets of a company but the loan which is taken is not an asset.
Detailed explanation-2: -Accrual and payment You pay off expenses in real-time because they’re necessary for ongoing business operations. Expenses fund your daily business operations and contribute to turning a profit. When you don’t pay off an expense immediately, it then becomes a liability on the balance sheet.
Detailed explanation-3: -Expenses are not a part of a Company‘s balance sheet.
Detailed explanation-4: -Cash and cash equivalents, certificates of deposit, checking, and savings accounts, money market accounts, physical cash, Treasury bills. Property or land and any structure that is permanently attached to it. Personal property-boats, collectibles, household furnishings, jewelry, vehicles.