Angela has a small bed and breakfast (B&B) in a lakeside resort town. If she listed all of the B&B's assets on the balance sheet, which of the following assets would be listed last?
A) furniture and appliances
B) cleaning equipment and supplies
C) office equipment and supplies
D) building

Question

Quizplus · Accepted Answer

On a balance sheet, assets are typically listed in order of liquidity, meaning how quickly they can be converted into cash. The building, being a fixed and long-term asset, would be listed last after more liquid assets like furniture, cleaning, and office equipment and supplies.

Angela Has a Small Bed and Breakfast (B&B) in a Lakeside