On a classified statement of financial position, current assets are often listed
A)in alphabetical order.
B)with the largest dollar amounts first.
C)in the order in which they are expected to be converted into cash.
D)in the order of acquisition.

Question

Quizplus · Accepted Answer

Current assets are typically listed in the order in which they are expected to be converted into cash, reflecting their liquidity. This is known as the order of liquidity.

On a Classified Statement of Financial Position, Current Assets Are