Test your knowledge of the balance sheet and answer the following questions using this sample balance sheet.
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Question 1 of 6
1. Question
On what date was this balance sheet “snapshot” taken?
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Question 2 of 6
2. Question
On that day, what did the nonprofit own (total assets)?
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Question 3 of 6
3. Question
What did the nonprofit owe (total liabilities)?
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Question 4 of 6
4. Question
Are current liabilities close to or greater than current assets?
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Question 5 of 6
5. Question
Is the nonprofit’s current ratio greater than one? Remember: Current Ratio = Current Assets/Current Liabilities
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Question 6 of 6
6. Question
How much cash and cash equivalents does the nonprofit have?
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