All these statements about the balance sheet are true,except
A)assets are listed in order of liquidity.
B)it shows the cash received and cash paid for the period.
C)it it reflects the accounting equation.
D)the total of the assets must equal the total of the liabilities plus equity.

Question

All these statements about the balance sheet are true,except
A)assets are listed in order of liquidity.
B)it shows the cash received and cash paid for the period.
C)it it reflects the accounting equation. 
D)the total of the assets must equal the total of the liabilities plus equity.

Quizplus · Accepted Answer

The balance sheet shows the company's assets, liabilities, and equity as of a certain date, not the cash received and cash paid for the period.

All These Statements About the Balance Sheet Are True,except