Which of the following would appear in the current asset section of a classified statement of financial position?
A) Accumulated depreciation.
B) Bonds payable.
C) Prepaid expenses.
D) Intangible assets.

Question

Quizplus · Accepted Answer

Prepaid expenses would appear in the current asset section of a classified statement of financial position because they represent payments made in advance for goods or services that will be received in the future. Accumulated depreciation, bonds payable, and intangible assets are not current assets.

Which of the Following Would Appear in the Current Asset