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- Money is a claim against both real and financial assets. True/false.
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- Collateral may mean the acquisition of rights over either assets belonging to a borrower and/or the acquisition of rights against third parties. a. True b. FalseThese are those which do not give rise to a right to receive (or an obligation to deliver) a fixed or determinable amount of money. Non-financial items Non-monetary items Monetary items Financial itemsIn what way do assets differ from liabilities?
- Some financial assets (up to a limit) are FDIC insured while others are not. true or false1.what do you mean by Accountancy? 2. Classification of asset? 3.what do you mean by goodwill? 4.what is bad debt? 5.who is the creditor?Which of the following assets would not be included as a quick asset? a.Merchandise inventory b.Cash c.Temporary investments d.Accounts receivable
- The fair value is the value of an asset as it appears on the balance sheet. True FalseIs a transaction that has the effect of lowering an asset recorded as a debit or as a credit? Is the transaction recorded as a debit or as a credit if it has the effect of lessening a liability?Assets is Outflows or other using up of assets or incurrence of liabilities true False