The only difference in the balance sheets of various types of businesses (for example, manufacturing vs. service)is
A)current liabilities.
B)current assets.
C)investments.
D)equity.

Question

Quizplus · Accepted Answer

The only difference in the balance sheets of various types of businesses is in the composition of their current assets. Manufacturing businesses would have a higher proportion of inventory and raw materials as current assets, while service businesses might have a higher proportion of cash and accounts receivable. Other items such as current liabilities, investments, and equity would be common to all businesses.

The Only Difference in the Balance Sheets of Various Types