6. A house that you have leased to live in is an example of a tangible asset. True or False

7. An income statement tracks the amount of money you have coming in and going out over some period of time. True or False

8. Personal income statements are based on actual cash flows. True or False

9. Using financial ratios helps you analyze the raw figures provided in your personal income statement and balance sheet. True or False

10. The current ratio measures your ability to cover your current liabilities. True or False