A Corporation's Balance Sheet Is Usually Divided into Three Sections

question 57

Essay

A corporation's balance sheet is usually divided into three sections with various subclassifications reported within each group in an informative manner.Listed below are some typical subclassifications.
$\begin{array}{llcc} \text {Contributed capital } & \text {Other assets } \\\text {Current assets } & \text { Other liabilities } \\\text { Current liabilities } & \text { Property, plant, \& equipment} \\\text { Intangible assets } & \text { Retained earnings } \\\text { Long-term investments } & \text { Accumulated other comprehensive income } \\\text {Long-term liabilities } &\\\end{array}$
Required:
Identify each of the three balance sheet sections and list the subclassifications within each section in the appropriate order.

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Definitions:

External Environment

External factors, forces, situations, and events outside the organization that can affect its performance and strategies.

Bureaucracy

A rational and efficient form of organization founded on logic, order, and legitimate authority.

Formal Authority

The power or right, usually derived from a position or office, to make decisions, give orders, and enforce obedience.

Network Structure

An organization structure that uses information technologies to link with networks of outside suppliers and service contractors.