The first section of a balance sheet lists ________.
A)assets
B)liabilities
C)claims creditors have against the firm's assets payable within one year
D)the owner's equity in terms of initial capital invested and retained earnings

Question

Quizplus · Accepted Answer

The first section of a balance sheet lists the assets of the company, which are typically classified as current assets (those that can be converted into cash within one year) and noncurrent assets (those that have a longer life beyond one year).

The First Section of a Balance Sheet Lists ________