The Balance Sheet Is Made Up of What Five Key

question 11

Multiple Choice

The balance sheet is made up of what five key components:

• A) fixed assets, current liabilities, long term debt, tangible current assets and shareholders' equity.
• B) intangible fixed assets, current liabilities, long term debt, net income and current assets.
• C) fixed assets, long term debt, current assets, current liabilities and shareholders' equity.
• D) current assets, fixed assets, long term debt, shareholders equity and retained earnings.

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Definitions:

Indirect Costs

Expenses not directly tied to the production of goods or services but are necessary for the overall operation, such as utilities or administrative salaries.

Intangible Expenses

Costs associated with non-physical assets or activities, such as branding, intellectual property, or research and development.

Clerical Expenses

Costs associated with administrative tasks and office support services.

Formative Evaluations

Assessments conducted during the development of a project, program, or curriculum to provide feedback and guide improvements.