A balance sheet that lists the assets above the liabilities and owner's equity sections is a(n)________ balance sheet.
A) report form
B) unclassified form
C) account form
D) audited form

Question

Quizplus · Accepted Answer

The report form balance sheet lists the assets above the liabilities and owner's equity sections, providing a clearer picture of the financial position of the company. The unclassified form and account form do not relate to the order of listing the sections, and the audited form refers to the process of external verification rather than the format of the balance sheet.

A Balance Sheet That Lists the Assets Above the Liabilities