A balance sheet that has the assets listed above the liabilities and equity sections is a(n):
A) report form balance sheet.
B) classified form balance sheet.
C) account form balance sheet.
D) audited form balance sheet.

Question

Quizplus · Accepted Answer

The report form balance sheet is the format where assets are listed above the liabilities and equity sections, typically in a vertical layout. This is the most common presentation format used in financial reporting.

A Balance Sheet That Has the Assets Listed Above the Liabilities