Which of the Following Describes the Proper Form of a Balance

question 104

Multiple Choice

Which of the following describes the proper form of a balance sheet?

• A)Owners' equity is always the first section listed because it is the most important to external users.
• B)Cash is always the first asset listed,followed by permanent assets (such as land and buildings),and finally by assets such as receivables and supplies.
• C)Liabilities are listed before owners' equity.
• D)A subtotal for total assets plus total liabilities is shown.

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