Assets vs Liabilities - ACCT 201, West Virginia University

2. Assets vs Liabilities

in Topic 1 (Video 2 of 8)

6 minutes

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Here we tackle the first two parts of the Accounting Equation: Assets and Liabilities. What do those words actually mean? How are they the same? How are they different? We'll find out!

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Topic 2 →

1	The Accounting Equation	3:02
2	Assets vs Liabilities You are here.	5:32
3	Shareholder's Equity	5:26
4	The Balance Sheet	5:52
5	The Statement of Retained Earnings	5:51
6	The Income Statement	6:19
7	The Statement of Cash Flows	6:02
8	How the Statements Work Together	9:02

	Click Here to View All Topic 1 Problems at Once	View
1	Matching Basic Vocabulary	Easy
2	Account Classifications	Moderate
3	Solving for Net Income	Moderate
4	Tying the Statements Together	Moderate
5	Solving for Retained Earnings	Hard

2. Assets vs Liabilities

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Topic 1 Practice Problems

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