On the Statement of Financial Position,assets Are Normally Presented in and Liabilities

question 63

Multiple Choice

On the statement of financial position,assets are normally presented in and liabilities are usually presented in:

• A)Their order of permanence; the order in which they become due.
• B)The order in which they become due; their order of permanence.
• C)Order of profitability; order of liquidity.
• D)Order of liquidity; order of profitability.

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Definitions:

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The process of examining and evaluating the appropriateness, necessity, and impact of existing and proposed regulations.

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