What Is the Order in Which Assets Are Generally Listed

question 130

Multiple Choice

What is the order in which assets are generally listed on a classified balance sheet?

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

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Definitions:

Support Department Costs

Expenses incurred by service departments within a company that do not directly contribute to making a product but are necessary for the business to operate.

Assembly Department

A section within a manufacturing facility where components are assembled into final products, often involving both human labor and machinery.

Direct Method

A costing method that directly allocates service department costs to producing departments without apportioning them among the service departments themselves.

Support Departments

Units within an organization that provide essential services and support to the main production or operational departments but do not directly contribute to the primary business product or service.