Which asset groups do not need to be presented separately in the balance sheet?
A)Asset groups that differ in their function or nature.
B)Liabilities that are due to different banks.
C)Asset groups that are material.
D)Investment properties.

Question

Quizplus · Accepted Answer

Liabilities, including those due to different banks, are not considered assets and thus are not presented in the asset section of the balance sheet. Asset groups, regardless of their function, nature, materiality, or specific type (like investment properties), are typically presented separately if they are significant to understanding the financial position of the entity.

Which Asset Groups Do Not Need to Be Presented Separately