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

Question

Quizplus · Accepted Answer

A report form balance sheet lists the assets above the liabilities and stockholders' equity sections, allowing for a clearer presentation of the financial information. An unclassified form balance sheet does not separate assets and liabilities into current and non-current categories, while an account form balance sheet lists the assets and liabilities side by side in a T-shaped format. The term "audited form" does not refer to a type of balance sheet format.

A Balance Sheet That Lists the Assets Above the Liabilities