The standard classification and order of the asset section of a classified balance sheet is
A) long-term investments, current assets, property, plant and equipment, intangible assets, goodwill.
B) current assets, long-term investments, property, plant and equipment, intangible assets, goodwill.
C) intangible assets, current assets, long-term investments, property, plant and equipment, goodwill.
D) property, plant and equipment, intangible assets, long-term investments, current assets.

Question

Quizplus · Accepted Answer

The standard order of the asset section of a classified balance sheet is current assets first, followed by long-term investments, property, plant and equipment, intangible assets, and goodwill. This order reflects the decreasing liquidity and increasing long-term nature of the assets.

The Standard Classification and Order of the Asset Section of a Classified