Question 21 Which of the following is classified as a tangible asset? Motorcycle

Question

Question 21

Which of the following is classified as a tangible asset?

Motorcycle

Pension plan

Cash

Real estate investment

Question 22

Which of the following is classified as an investment asset?

Certificates of deposit

Money market accounts

Stocks

Primary residence

Question 23

A net surplus at the end of the month could be

all of these.

invested in a retirement account.

carried forward to the next month.

used to pay down credit card debt.

Question 24

Child support received, Social Security benefits, and public assistance are all examples of

both assets and income.

expenses.

income.

assets.

Question 25

Which of the following would be classified as a short-term liability?

Education loans

Credit card debt

A car loan

Next month's rent

Motorcycle

Pension plan

Cash

Real estate investment

Explanation / Answer

1) Following are classified as tangible asset -: Motorcycle , Real estate investment , and cash becuase these assets hold the characteristics of being a tangible assets that is they can be physically touched and seen

2) Following are classified as an investment asset -: Stocks , Money market accounts and certificate of deposits

3) A net surplus at the end can be used for all of the above pupose either paying credit card debt or carried forward to next period

4) Both assets and income

5) Next months rent would be classified as short term liability

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