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9. Define the following terms- Assets------------------------------------------------------------------------------------------------- Accounts Payable ----------------------------------------------------------------------------- Unearned Revenue ---------------------------------------------------------------------------- Consider the following information: Cash $ 6,000 Automobile 50,000 Prepaid Insurance 3,000 Mortgage
9. Define the following terms-
- Assets-------------------------------------------------------------------------------------------------
- Accounts Payable -----------------------------------------------------------------------------
- Unearned Revenue ----------------------------------------------------------------------------
- Consider the following information:
Cash | $ 6,000 |
Automobile | 50,000 |
Prepaid Insurance | 3,000 |
Mortgage Payable | 10,000 |
Unpaid Credit Card Bills | 2,000 |
Net Worth? | ? |
How much is the net worth?
3+1 = 4 Marks
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