Under U.S.GAAP, assets and liabilities in the balance sheet appear in order of increasing closeness-to-cash.

Name: Under U.S.GAAP, assets and liabilities in the balance sheet appear in order of increasing closeness-to-cash.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

Under U.S. GAAP, assets and liabilities in the balance sheet are generally presented in order of liquidity, meaning assets are listed from most liquid (closest to cash) to least liquid, and liabilities are listed from those due soonest to those due latest.

Under USGAAP, Assets and Liabilities in the Balance Sheet Appear in in Order