All of the following would be reported on the balance sheet as a current asset except
A) factory overhead
B) materials inventory
C) finished goods inventory
D) work in process inventory

Question

Quizplus · Accepted Answer

Factory overhead is an indirect cost and is not a tangible asset that can be converted into cash or used in operations, so it would not be reported as a current asset on the balance sheet. Materials inventory, finished goods inventory, and work in process inventory are all tangible assets that can be sold or used in operations and would typically be reported as current assets on the balance sheet.

All of the Following Would Be Reported on the Balance