On the Statement of Financial Position,how Are Assets and Liabilities

question 109

Multiple Choice

On the statement of financial position,how are assets and liabilities normally presented?

• A)Assets are presented in their order of permanence;liabilities are presented in the order in which they become due.
• B)Assets are presented in the order in which they become due;liabilities are presented in their order of permanence.
• C)Assets are presented in order of profitability;liabilities are presented in order of liquidity.
• D)Assets are presented in order of liquidity;liabilities are presented in order of profitability.

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Definitions:

Indifference Curve

This is a graph representing different bundles of goods between which a consumer is indifferent, meaning that each combination offers the same level of utility to the consumer.

Indifference Curves

Graphical representations in microeconomics showing different bundles of goods between which a consumer is indifferent.

Consumer's Preferences

The subjective tastes and desires that guide consumer behavior in choosing among various goods and services.

Prices

The price projected, required, or paid in return for a particular item.