In a balance sheet,assets are classified as either current or long term,depending on their liquidity.

Name: In a balance sheet,assets are classified as either current or long term,depending on their liquidity.
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This statement is true. Assets are classified as current or long term based on their liquidity, with current assets being those that can be easily converted into cash within one year and long term assets being those that cannot be easily converted into cash within one year.

In a Balance Sheet,assets Are Classified as Either Current or Long