Which statement is not true?
A) The balance sheet can be presented in account form or narrative form.
B) The account form balance sheet lists all the elements in one column.
C) In Australia the narrative form balance sheet is the most common.
D) The basic layout for the account form balance sheet is assets = liabilities + equity.

Question

Quizplus · Accepted Answer

The account form balance sheet lists assets on one side and liabilities and equity on the other, not in one column.

Which Statement Is Not True