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Test What are liabilities?
Agenda
QUESTION 1: HOW IS A LIABILITY PAID?
With cash
With assets
With services
With all of the above
QUESTION 2: WHAT DO LIABILITIES ALLOW YOU TO DO?
Measure the profitability of investments
Inform about your funding sources
QUESTION 3: HOW IS THE ASSET CALCULATED?
Assets=liabilities+equity
Assets = liabilities - shareholders' equity
QUESTION 4: HOW IS NET WORTH CALCULATED?
Net worth=assets+liabilities
Equity=assets-liabilities
QUESTION 5: HOW ARE LIABILITIES CALCULATED?
Liabilities=assets+equity
Liabilities=assets-equity
QUESTION 6: WHEN IS A LIABILITY FIXED?
When paid in less than one year
When paid in one year or more
QUESTION 7: WHAT DIFFERENTIATES A LIABILITY FROM AN EXPENSE?
A liability is paid over a period of time that may be short or long
A liability is paid on the spot
QUESTION 8: WHY ARE LIABILITIES IMPORTANT?
Because they are the goods and rights we own
Because they finance the business activity
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INCORRECT QUESTIONS
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What is the error?
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