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Unformatted text preview: Week 3 CheckPoint: Classified Balance Sheets Due Date: Day 5 [Individual] forum Post your response to the following: In 200 to 300 words, explain what information would be found in each of the following groupings on a classified balance sheet, and how that data could indicate the future success or failure of a business: o Current assets o Long-term investments o Property, plant, and equipment o Intangible assets The term "current" is used to refer to those assets or liabilities which will be realized or paid by an entity within a year's time. The term "long term" is used to refer to those assets or liabilities which will be realized or paid by an entity in over a year's time. For example, a listing of current assets would likely include items such as cash, marketable securities,accounts receivable, or inventory. Cash, is immediately available for use and is, therefore, something an entity can immediately (i.e., less than one year's time). Marketable securities, because they can be easily immediately (i....
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This note was uploaded on 10/17/2011 for the course ACC 220 220 taught by Professor Aliciahubbard during the Spring '10 term at University of Phoenix.
- Spring '10