Overview of the Balance Sheet

Please answer the questions below and proceed by clicking the Check My Answers button located at the bottom of the page.

1.	Accounts receivable would be considered:
			A liability
			A fixed asset
			A current asset
			None of the above
2.	Common equity includes:
			Common stock
			Capital surplus
			Retained earnings
			All of the above
			None of the above
3.	Preferred stock would be considered:
			A current liability
			A long-term liability
			Owners' equity
			None of the above
4.	Intangible assets would include:
			Goodwill
			Patents
			Trademarks
			Organizational costs
			All of the above
			None of the above
5.	Long-term liabilities are those that:
			Are due in 1 year or more
			Are due in 5 years or more
			Are due in 10 years or more
			None of the above