Which of the Following Is the Proper Order to List

question 55

Multiple Choice

Which of the following is the proper order to list current assets on the Statement of Financial Position?

• A) Cash, Short-Term Investments, Inventory, Prepaid Expenses
• B) Cash, Short-Term Investments, Prepaid Expenses, Accounts Receivable
• C) Cash, Inventory, Accounts Receivable, Short-Term Investments
• D) Cash, Accounts Receivable, Short-Term Investments, Inventory

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Definitions:

Decorated Cakes

These are cakes that have been aesthetically designed and adorned with icing, frosting, and other edible decorative elements.

Total Cost Concept

The total cost concept is an approach in economics and accounting that considers all costs related to the production and delivery of a product or service, including fixed, variable, and indirect costs.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment’s cost.

Markup Percentage

The fraction applied on top of the buying price of products to include expenses for overhead and yield a profit.