Q1. A sales sheet includes: a) Introduction b) Logo c) Product Name d) All of the above Q2. Sales sheet is also known as: a) Sell sheet b) Sales slick c) Product datasheet d) All of the above Q3. What is the normal balance for liability accounts? a) Debit b) Credit c) Loan d) None of the above Q4. Which of the following is normally a current liability? a) Note Payable Due In Two Years b) Unearned Revenue Q5. A balance sheet is usually divided into sections: a) 2 b) 3 c) 4 d) None of the above Q6. "The income statement summarizes revenues and expenses resulting from operating and non-operating activities." a) True b) False Q7. An income statement would include: a) Revenue b) Expenses c) Profit d) All of the above Q8. An example of short-term liabilities includes: a) Money owed to vendors b) Payroll expenses c) Accounts payable d) All of the above Q9. The balance sheet is based on the fundamental equation: Assets Liabilities + Equity. = a) True b) False Q10. Mortgage is a type of liability. a) True b) False