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Test information nstructions Timed TestThis test has a time limit of 2 hours and 20 minutes.This test will save and submit automatically when the time expires Warnings appear when half the time. 5 minutes. 1 minute, and 30 seconds remain Multiple Attempts Not allowed. This test can only be taken once Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test Remaining Time: 1 hour, 13 minutes, 33 seconds Question Completion Status 12 13 14 15 16 17 18 19 20 21 22 23 2425 26 27 28 29 30 31 32 33 34 35 36 37 38 39 4041 42 43 44 45 46 47 48 49 s0 9 10 Momg to another question wil save this response. Question 36 of SO3131 Question 36 2 points Save Answer Current assets on a classified balance sheet under US GAAP should be listed A. by liquidity by importance. o C by longevity alphabetically Moving to another question will save this response Question 36 of 50,)(

Solution

Question 36.

Answer is A.

The balance sheet reflects the assets of an entity as at a particular date. The assets are listed accordnace to the liquidity , the most liquid assets are listed at the top of the list and the highly non liquid assets are listed at the bottom.