The classification of assets and liabilities as current or long-term depends on （ ）.
A: The relative liquidity of the item
B: Whether they appear on the balance sheet or the income statement
C: Their order of listing in the ledger
D: The format of the balance sheet
A: The relative liquidity of the item
B: Whether they appear on the balance sheet or the income statement
C: Their order of listing in the ledger
D: The format of the balance sheet
举一反三
- If a company presents its balance sheet in a format that includes subtotals for current assets, current liabilities, noncurrent assets, and noncurrent liabilities, it is most likely presented:（） A: in an account format. B: as a classified balance sheet. C: as a functional balance sheet.
- The ________ shows the assets, liabilities, and owners' equity of a firm, at a specific point in time. A: income statement B: balance sheet C: statement of cash flows D: trial balance
- Current assets are listed on the balance sheet in order of liquidity.
- Which accounts appear on which financial statement? Balance sheet Income statement
- Which accounts appear on which financial statement? A: Balance sheet: Receivables, land, payablesIncome statement: Revenues, supplies B: Balance sheet: Cash, revenues, landIncome statement: Expenses, payables C: Balance sheet: Cash, receivables, payables Income statement: Revenues, expenses D: Balance sheet: Expenses, payables, cash Income statement: Revenues, receivables, land