A typical classified balance sheet provides no information about which of the following items?
A)To whom the company owes money
B)For what the company owes money
C)How much the company owes
D)The proportion of the company's debts that will be paid in the short-term

Question

Quizplus · Accepted Answer

Liabilities on the balance sheet are reported as either current (short-term)or noncurrent (long-term)at the amount owed.The account names provide information as to the reason for the liability,(e.g. ,Notes Payable,Accounts Payable,Salaries and Wages Payable,etc. ),but there is generally no indication as to whom the amount is owed.

A Typical Classified Balance Sheet Provides No Information About Which