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For Each Financial Statement Item , Identify in Which Balance

Question 83

Matching

For each financial statement item , identify in which balance sheet category it should be reported

Premises:
Accumulated depreciation
Accounts receivable
Trademarks
Investment in bonds
Retained earnings
Short-term investments
Prepaid insurance
Responses:
Current assets
Long-term investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Shareholders’ equity
Not disclosed on the balance sheet

Correct Answer:

Current assets
Long-term investments
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Shareholders’ equity
Not disclosed on the balance sheet
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