Cash is the first asset listed on the balance sheet because it is:
A)the most liquid asset.
B)valuable.
C)subject to theft.
D)subject to errors.

Question

Quizplus · Accepted Answer

Cash is considered the most liquid asset, meaning it can be most quickly and easily converted into other assets or used to pay for goods, services, or liabilities. This is why it is listed first on the balance sheet.

Cash Is the First Asset Listed on the Balance Sheet