Companies in certain industries do not make the distinction between current and non-current on their balance sheets.

Question

Quizplus · Accepted Answer

Certain industries such as banking and finance typically do not classify their assets and liabilities as current or non-current on their balance sheets. Instead, they present them in order of liquidity or maturity. Therefore, the distinction between current and non-current items may not be applicable to these industries. However, most other industries do make this distinction on their balance sheets.

Companies in Certain Industries Do Not Make the Distinction Between