Which of the following appears as a category in the balance sheet?
A)Expenses
B)Gains
C)Liabilities
D)Net profit
E)Cost of goods sold

Name: Which of the following appears as a category in the balance sheet? A)Expenses B)Gains C)Liabilities D)Net profit E)Cost of goods sold
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Question

Quizplus · Accepted Answer

Liabilities appear as a category in the balance sheet.
Key Takeaway: The three basic elements of a balance sheet are: assets, liabilities, and owner's equity.

Which of the Following Appears as a Category in the Balance