Non-Current Liabilities on a Balance Sheet: Definition & Examples Video

Instructions:

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

question 1 of 3

Which of the following is the best explanation of non-current liabilities?

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1. What are the three major components of a balance sheet?

2. What's the difference between a credit line and a promissory note?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will gauge your knowledge of non-current liabilities on a balance sheet. Topics reviewed on the quiz include the best explanation of non-current liabilities as well as the three major components of a balance sheet.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review the following:

  • Definition of non-current liabilities
  • Three main components of a balance sheet
  • Difference between a credit line and promissory note
  • Types of non-current liabilities
  • What a bond is

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Interpreting information - verify you can read information regarding bonds and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the three main components of a balance sheet
  • Distinguishing differences - compare and contrast topics from the lesson, such as a credit line and promissory note

Additional Learning

To learn more, review the corresponding lesson titled Non-Current Liabilities on a Balance Sheet: Definition & Examples. This lesson will help you:

  • Understand what non-current liabilities are
  • Explain why these liabilities are called long-term liabilities
  • Identify when long-term liabilities become due
  • Describe where the liabilities are reported in a company
  • Appreciate the main types of long-term liabilities
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