A non-classified balance sheet typically does not have a distinction between which of the following items?
A)assets and liabilities
B)current and noncurrent items
C)liabilities and stockholders' equity
D)Resources invested by the owners and amounts borrowed from creditors.

Question

Quizplus · Accepted Answer

A non-classified balance sheet does not distinguish between current and noncurrent items, meaning it does not separate assets and liabilities into short-term and long-term categories.

A Non-Classified Balance Sheet Typically Does Not Have a Distinction