In What Order Are Current Assets Usually Reported on the Statement

question 104

Multiple Choice

In what order are current assets usually reported on the statement of financial position?

• A) From the least liquid to the most liquid.
• B) From the most liquid to the least liquid.
• C) From the largest balance to the smallest balance.
• D) In alphabetical order of accounts.

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Definitions:

Year-Round

Pertaining to something that occurs, is available, or is effective throughout the entire year.

Utility

The total satisfaction or benefit derived from consuming a good or service.

FreshCase Packaging

A packaging technology designed to extend the shelf life of perishable goods such as meats through vacuum sealing and specialized materials.

Vacuum Package

A packaging method that involves removing air from a package and sealing it to extend the shelf life of its contents, protect against spoilage, and reduce volume.