A Balance Sheet Prepared in the Report Form Lists the Assets

question 161

True/False

A balance sheet prepared in the report form lists the assets on the left and the liabilities and owner's equity on the right.

---

Definitions:

Certificate Of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate, issued by a bank to a depositor.

Bank

A financial institution licensed to receive deposits and make loans, offering various other financial services.

Currency Requirement

The necessity for a form of payment to be accepted as valid currency within a financial transaction.

Negotiability

The ability of a financial instrument to be transferred from one party to another with the title passing legally to the transferee.