Which of the Following Presents the Proper Ordering of Assets,liabilties

question 35

Multiple Choice

Which of the following presents the proper ordering of assets,liabilties and equities on the statement of financial position used by some countries that is different from the U.S.?

• A)current assets,long-term assets,current liabilities
• B)inventories,trade-receivables,cash
• C)assets,liabilities,equities
• D)current liabilities,long-term liabilities,equities

---

Definitions:

Cash Receipts

Money received by a business or individual, often recorded in the financial records to track income.

Cash Payments

Money disbursed by a business for various purposes, including operating expenses, debt repayment, and asset purchases.

Activity-Based Budgeting

A budgeting approach where budgets are developed based on the activities and resources needed to achieve specific goals or outputs.

Benefits of Budgeting

Benefits of budgeting include providing a financial framework for decision making, setting financial targets, and monitoring financial performance against those targets.