5. One side (you might visualize it as the left side) of a balance sheet identifies the assets of a company. That asset side is known as the:

Question 5 of 34

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Question 5

One side (you might visualize it as the left side) of a balance sheet identifies the assets of a company. That asset side is known as the:

		A. The operating side.
		B. The investing side.
		C. The financing side.
		D. The limited liability side.

6. What THREE items appear on the right side of a balance sheet (this is the side that DOES NOT identify the assets of a company)? You must identify ALL THREE CORRECT answers for credit.

		Cash
		Equipment
		Debt
		Paid-in Capital (including common stock)
		Retained Earnings
		Accounts receivable