Liabilities, Assets, and Equity: Definitions and examples of these key terms. Video presentation which included Short-term Liabilities, Long-Term Liabilities, Current/Liquid Assets, Long-Term/Fixed Assets, Tangible Assets, and Intangible/Investment Assets. Equity defined as difference between Assets and Liabilities. Balance Sheets and Net Worth. During today's class, Aiden learned about several key terms in basic financial analysis which included Assets , Liabilities, and Equity. The important concept of Net Worth (Equity) and Balance sheets were explained in detail.