Assets are listed on a classified balance sheet:
A)in alphabetical order.
B)from the largest dollar amount to the lowest dollar amount.
C)beginning with noncurrent assets and ending with current assets.
D)beginning with current assets and starting with Cash.

Question

Quizplus · Accepted Answer

Companies list assets in order of liquidity (how soon they will be used up or turned into cash)and liabilities in order of maturity (how soon they will be paid in cash or fulfilled by providing a service).A classified balance sheet lists current assets first starting with Cash.

Assets Are Listed on a Classified Balance Sheet