The Normal Order for the Asset Section of a Classified

question 22

Multiple Choice

The normal order for the asset section of a classified balance sheet is

• A) Current assets, prepaid expenses, long-term investments, intangible assets
• B) Long-term investments, current assets, property, plant and equipment, intangible assets
• C) Current assets, long-term investments, property, plant and equipment, intangible assets
• D) Intangible assets, current assets, long-term investments, property, plant and equipment
• E) Property, plant and equipment, intangible assets, long-term investments, current assets

---

Definitions:

Cleavage

In geology, the tendency of a mineral to break along flat, parallel surfaces determined by its crystal structure.

Hornfels

A hard, fine-grained metamorphic rock formed by the contact metamorphism of clay-rich or silicate rocks.

Thrust Fault

A type of fault in which the upper block, above the fault plane, moves up and over the lower block.

Anticline

A type of fold in sedimentary rocks that resembles an arch, with the oldest rock layers at its core, indicative of compressional tectonic forces.