Which Account Will Appear Last Under the Current Assets Classification

question 63

Multiple Choice

Which account will appear last under the current assets classification on the Statement of Financial Position?

• A) Accounts Receivable.
• B) Prepaid Expenses.
• C) Short-term investments.
• D) Cash.

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Definitions:

Trust

An arrangement in which property is transferred by one person (the grantor or settlor) to another (the trustee) for the benefit of a third party (the beneficiary).

Legal Arrangement

Agreements or structures established under law for managing and organizing rights, responsibilities, and relationships.

Ownership of Property

The legal right or title to possess, use, and enjoy a specified piece of land or goods.

Trademark Law

The area of law that deals with the registration, protection, and enforcement of trademarks, which distinguish goods and services of one entity from those of others.