ch3S1

A balance sheet represents a financial summary over a period of time

False

The most appropriate document storage location for a canceled checks would be what

Home File System

The most appropriate document storage location for a paycheck sub would be what

Home File System

Which of the following is an example of a liquid asset

$500 in a checking account

The most appropriate document storage location for a automobile title would be what

Safe-Deposit Box

Which of the following is an example of a current liability

credit card balance

The most appropriate document storage location for a budget would be what

Computer

Which of the following is NOT a means by which people may increase their net worth

Increase long-term liabilities

Current liabilities are debts that have to be paid within one year

True

Which of the following is NOT an example of a personal possession?

farm