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Split the current from the fixed assets

Exercise and reference answers

Left
Current asset
Items
  1. Item
    Cash
    Answer
    Current asset
  2. Item
    Buildings
    Answer
    Fixed asset
  3. Item
    Machinery
    Answer
    Fixed asset
  4. Item
    Receivables
    Answer
    Current asset
  5. Item
    Land
    Answer
    Fixed asset
  6. Item
    Inventory
    Answer
    Current asset
  7. Item
    Notes receivable
    Answer
    Current asset
  8. Item
    Furniture
    Answer
    Fixed asset
Right
Fixed asset
Instructions
Swipe left if it turns into cash within a year, right if it is held far longer.

Explanation

_Source: OpenStax Introduction to Business, section 14.4 The Balance Sheet_
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