The Usual Order for the Asset Section of a Classified

question 137

Multiple Choice

The usual 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, plant assets, intangible assets.
• C)Current assets, long-term investments, plant assets, intangible assets.
• D)Intangible assets, current assets, long-term investments, plant assets.
• E)Plant assets, intangible assets, long-term investments, current assets.

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Definitions:

Substantial Risk

A significant chance or danger of damage, harm, or adverse effects.

Felony

As a general rule, all crimes punishable by death or by imprisonment in a state prison.

Misdemeanor

Any crime that is punishable neither by death nor by imprisonment in a state prison.

Serious Crime

An act, typically involving violence, regarded by society as being particularly harmful or dangerous, and punishable by severe penalties including imprisonment.