The balance sheet format recommended for financial statements submitted to the NARUC and FERC for utilities subject to regulatory reporting requirements displays Utility Plant before Current and Accrued Assets and Long-Term Debt before Current and Accrued Liabilities.

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This statement is true. The balance sheet format for utilities subject to regulatory reporting requirements typically displays Utility Plant before Current and Accrued Assets, and Long-Term Debt before Current and Accrued Liabilities. This format provides regulators with a clear view of the utility's long-term assets, liabilities, and debt obligations.

The Balance Sheet Format Recommended for Financial Statements Submitted to the NARUC