Which of the Following Statements About the Narrative Form of a Balance

question 30

Multiple Choice

Which of the following statements about the narrative form of a balance sheet is true?

• A) It resembles a T-shaped ledger account.
• B) All elements of the balance sheet are listed in one column.
• C) In Australia, the narrative form of balance sheet is less common than the account form.
• D) It shows the accounting equation as Assets = Liabilities + Equity.

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