All of the following statements are true except:
A) under IFRS, an unclassified balance sheet based on the order of liquidity is acceptable only when it provides more reliable information than a classified one.
B) U.S. standards require a classified balance sheet with liabilities in order by size or by order of liquidity.
C) IFRS require companies to present classified balance sheets.
D) U.S. standards do not require a classified balance sheet.

Question

Quizplus · Accepted Answer

The Answer of All of the following statements are true except:
A) under IFRS, an unclassified balance sheet based on the order of liquidity is acceptable only when it provides more reliable information than a classified one.
B) U.S. standards require a classified balance sheet with liabilities in order by size or by order of liquidity.
C) IFRS require companies to present classified balance sheets.
D) U.S. standards do not require a classified balance sheet.

All of the Following Statements Are True Except