2 - 1. In a classified balance sheet, assets are usually...

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In a classified balance sheet, assets are usually classified as: A. current assets; long- plant, and equipmen assets. B. current assets; long-term investments; property, plant, a common stock. C. current assets; long-term investments; tangible assets; a D. current assets; long-term investments; property, plant, a intangible assets. 2. Current assets are listed: A. by liquidity. B. by importance. C. by longevity. D. alphabetically. 3. The correct order of presentation is a classified balance sheet for the following current assets is: A. accounts receivable, cash, prepaid insurance, inventories B. cash, inventories, accounts receivable, prepaid insuranc C. cash, accounts receivable, inventories, prepaid insuranc D. inventories, cash, accounts receivable, prepaid insuranc 4. A company has purchased a tract of land. It expects to build a production plant on the land in approximately 5 years. During the 5 years before construction the land will be idle. The land should be reported as: A. property, plant, and equipment. B.
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This note was uploaded on 02/28/2012 for the course ACCT 460 taught by Professor Charley during the Spring '12 term at Aachen University of Applied Sciences.

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2 - 1. In a classified balance sheet, assets are usually...

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