Multiple Choice
Which of the following describes the proper form of a balance sheet?
A) Owners' equity is always the first section listed because it is the most important to external users.
B) Cash is always the first asset listed,followed by permanent assets (such as land and buildings) ,and finally by assets such as receivables and supplies.
C) Liabilities are listed before owners' equity.
D) A subtotal for total assets plus total liabilities is shown.
Correct Answer:
Verified
Correct Answer:
Verified
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