For each item listed, select the section of the balance sheet in which the item would be reported.
-Cash
A)Current Assets
B)Property. Plant, and Equipment
C)Current Liabilities
D)Long-term Liabilities
E)Stockholders' Equity

Question

Quizplus · Accepted Answer

Cash is a current asset, as it is expected to be used or converted into cash within one year or one operating cycle, whichever is longer. Therefore, it would be reported in the current assets section of the balance sheet.

For Each Item Listed, Select the Section of the Balance