Classify Each of the Following Balance Sheet Items as a Current

question 91

Essay

Classify each of the following balance sheet items as a current asset, non-current asset, current liability or non-current liability.
A) cash
B) a 10-year loan owing to a bank
C) an amount owing to a supplier due in 30 days
D) land purchased for immediate resale by a real estate developer
E) a delivery truck

• A) cash
• B) a 10-year loan owing to a bank
• C) an amount owing to a supplier due in 30 days
• D) land purchased for immediate resale by a real estate developer
• E) a delivery truck

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Definitions:

Stay-at-Home Dad

A father who chooses to stay at home to care for his children and manage household tasks while his partner works outside the home for income.

Competitive Breadwinner

An individual who strives to be the primary or sole financial provider for their family, often driven by societal expectations or personal ambition.

Trailing Spouse

A person who relocates to support their partner's career or educational pursuits, often facing challenges in employment and social integration.

Dual-Career Spouse

A situation where both spouses or partners have careers and work outside the home, often leading to challenges in balancing work and family life.