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