A balance sheet that places the assets above the liabilities and equity is called a(n):
A) Report form balance sheet.
B) Account form balance sheet.
C) Classified balance sheet.
D) Unadjusted balance sheet.
E) Unclassified balance sheet.

Question

Quizplus · Accepted Answer

The report form balance sheet is the format where assets are listed at the top, followed by liabilities and equity below, typically presented in a vertical format.

A Balance Sheet That Places the Assets Above the Liabilities