1) Wages a) Asset b) Liability c) Income d) Expense 2) Inventory (Stock) a) Asset b) Liability c) Income d) Expense 3) Cash Sales a) Asset b) Liability c) Income d) Expense 4) Goods purchased on credit a) Asset b) Liability c) Income d) Expense 5) Trade payables (creditors) a) Asset b) Liability c) Income d) Expense 6) Money in Bank a) Asset b) Liability c) Income d) Expense 7) Trade Receivables (Debtors) a) Asset b) Liability c) Income d) Expenses 8) Mortgage a) Asset b) Liability c) Income d) Expense 9) Delivery Vehicle a) Asset b) Liability c) Income d) Expense 10) Business rates a) Asset b) Liability c) Income d) Expense 11) Bank Interest received a) Asset b) Liability c) Income d) Expense 12) Loan Interest a) Asset b) Liability c) Income d) Expense 13) Stationery a) Asset b) Liability c) Income d) Expense 14) Heat & Lighting a) Asset b) Liability c) Income d) Expense 15) Rent receivable a) Asset b) Liability c) Income d) Expense

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