The conventional way of preparing a balance sheet is to list all assets in the order of their:
A) market value.
B) risk.
C) liquidity.
D) historical cost.

Question

Quizplus · Accepted Answer

Assets on a balance sheet are typically listed in order of their liquidity, which refers to how quickly and easily an asset can be converted into cash without significantly affecting its value.

The Conventional Way of Preparing a Balance Sheet Is to List