Which statement is not true?
A) Current assets are normally reported in order of their liquidity.
B) Disclosures related to receivables are reported in the financial statement notes.
C) Cash and cash equivalents are the first items reported under Current assets.
D) All receivables that are expected to be realized in cash beyond 265 days are reported in the Noncurrent assets section.

Question

Quizplus · Accepted Answer

Receivables that are expected to be realized in cash beyond 265 days are reported in the Long-term investments or Other assets section, not in the Noncurrent assets section.

Which Statement Is Not True