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PRINT your name, as it appears on Compass, on all exam pages. 2. (20 points) In a Balance Sheet, the following items are classified as:

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PRINT your name, as it appears on Compass, on all exam pages. 2. (20 points) In a Balance Sheet, the following items are classified as: A. Current Asset B. Fixed Asset C. Current Liability D. Long Term Liability Circle the Classification for each of the five items shown in the table below: Amount Classification A B D 75,000 A B D Item Buildings (2 pt) Mortgage (2 pt) Cash (2 pt) Accounts Receivable (2 pt) Inventory (2 pt) Accounts Payable (2 pt) A B D 100,000 75,000 25,000 A B D A B D 75,000 125,000 A B C D What is the Net worth from the table above? (8 pt)

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