1. Identify two assets and two liabilities:

a. Equipment

b. Debts

c. Inventories

d. Accounts payable

2. Indicate the elements that relate to liabilities:

a. Goods, properties

b. Accounts receivable

c. Accounts payable

d. Labor/workforce

3. What accounts belong to the long-term liabilities?

a. long term loans payable

b. Short term investments

c. Salaries payable

d. Taxes payable