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.

Understand the physiological changes associated with aging and associated risks.

Know the immediate steps to take in emergency situations like choking.

Comprehend safety precautions necessary for children and the elderly.

Recognize common causes of injuries and how to prevent them.

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Definitions:

Unrealized Gains

Profits that have been achieved on paper from an investment but have not yet been realized through a transaction.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in the net income or loss for the period.

Fixed Assets

Long-term tangible assets used in operations, such as buildings and machinery, not expected to be converted to cash within a year.

Consolidated Balance Sheet

A financial statement that aggregates the assets, liabilities, and equity of a parent company and its subsidiaries.