Multiple choice

What are the two items listed on a balance sheet?

  1. Interest and principle

  2. Assets and liabilities

  3. Interest and assets

  4. Principle and bonds
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A balance sheet presents the financial position of an entity at a point in time, showing what it owns (assets) and what it owes (liabilities) on a specific date. Assets include cash, inventory, property; liabilities include loans, payables, debt. Option D mentions 'principle' (incorrect spelling, should be 'principal') and bonds are just one type of instrument.

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