A Balance Sheet Lists Assets in Order of Their ________

question 235

Multiple Choice

A balance sheet lists assets in order of their ________.

• A) dollar value, from smallest to largest
• B) date of acquisition, with the most recently acquired assets listed first
• C) liquidity, with the most liquid assets listed first
• D) income generating ability

---

Definitions:

Donee Beneficiary

In contract law, a third party who benefits from a contract between two other parties, particularly when the benefit was intended as a gift.

Promisee

The person to whom a promise or commitment is made, especially in the context of a contractual agreement.

Promisor

An individual or entity that makes a promise or agreement to perform a specified action in a contract.

Contractual Rights

The specific entitlements and obligations that are established within a contract, allowing the parties involved to enforce the terms legally.