Which of the following lists balance sheet items in correct orders, from top to bottom?
A)Cash, Inventory, Factory
B)Cash, Factory, Inventory
C)Payable, Long-term Debt, Short-term Debt
D)Inventory, Receivables, Owner's Equity

Question

Quizplus · Accepted Answer

The correct order for listing balance sheet items, from top to bottom, typically starts with the most liquid assets. Cash is the most liquid asset, followed by inventory, and then fixed assets like a factory. This order reflects the liquidity of assets, from most to least liquid.

Which of the Following Lists Balance Sheet Items in Correct