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Classified Balance Sheet: Definition & Example Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Choose the best answer to describe assets.

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1. Choose the best answer that describes equity.

2. Choose which component of the classified balance sheet represents cash and inventory.

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About This Quiz & Worksheet

There are various items presented on a classified balance sheet. This quiz and worksheet will test your knowledge of a classified balance sheet and the items listed on it.

Quiz & Worksheet Goals

In these assessments, you will be quizzed on:

  • Assets
  • Components of a balance sheet
  • Equity

Skills Practiced

  • Information recall - access the knowledge you've gained regarding a classified balance sheet
  • Knowledge application - use your knowledge to answer questions about items listed on a balance sheet
  • Interpreting information - verify that you can read information regarding a company's value and interpret it correctly

Additional Learning

To learn more about a classified balance sheet and what it contains, review the lesson called Classified Balance Sheet: Definition & Examples. The lesson will discuss the following subjects:

  • Definition of a classified balance sheet
  • What a business owns and owes
  • Finding the value of a business
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