INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Motor Vehicle
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Property
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Furniture
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Bank Loan
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Detailed explanation-1: -Is a Loan an Asset? A loan is an asset but consider that for reporting purposes, that loan is also going to be listed separately as a liability.
Detailed explanation-2: -The answer is d) Loans made to customer . On a bank’s T-account, its liabilities include customers’ deposits while its assets include reserves held and loans made to others.
Detailed explanation-3: -Answer and Explanation: The correct answer is option b. Checkable deposits.
Detailed explanation-4: -Business assets can be divided into four main categories: current, fixed, financial investments, and intangible assets. Physical assets include things like property, equipment, and inventory. Examples of intangible assets are intellectual property, goodwill, and branding.