When the three sections of a balance sheet are presented on a page in a downward sequence, it is called the
A) account form
B) comparative form
C) horizontal form
D) report form

Question

Quizplus · Accepted Answer

When the three sections of a balance sheet (assets, liabilities, and shareholders' equity) are presented in a downward sequence on a page, it is referred to as the report form. This format is commonly used because it is straightforward and easy to read, presenting the information in a vertical layout.

When the Three Sections of a Balance Sheet Are Presented