A balance sheet that places the liabilities and equity to the right of the assets is calleda(n):
A)Account form balance sheet.
B)Report form balance sheet.
C)The accounting equation.
D)Adjusted balance sheet.
E)Unadjusted balance sheet.

Question

Quizplus · Accepted Answer

A balance sheet that places the liabilities and equity to the right of the assets is called an Account form balance sheet. In this form, the assets are listed on the left side and the liabilities and equity are listed on the right side, just like a traditional T-account.

A Balance Sheet That Places the Liabilities and Equity to the Right