What Is the Order in Which Assets Are Generally Listed

question 163

Multiple Choice

What is the order in which assets are generally listed on a classified statement of financial position?

• A) Current and long-term.
• B) Intangible assets; long-term investments; property, plant, and equipment; current.
• C) Long-term investments; property, plant, and equipment; intangible assets; current
• D) Intangible assets; property, plant, and equipment; long-term investments; current.

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Definitions:

Interest Payment

The amount paid by a borrower to a lender, typically at a set interval, for the use of borrowed money.

Accumulated Depreciation

The total amount of a tangible fixed asset's cost that has been allocated as depreciation expense since the asset was put into use.

Cash Fund

A cash fund is a reserve of liquid money that a business or individual keeps on hand for meeting short-term obligations or emergencies.

Depreciated

Depreciation is the process of allocating the cost of a tangible asset over its useful life, reflecting the asset's wear and tear, deterioration, or obsolescence.