The asset section of a classified balance sheet usually includes:
A)Current assets,investments,plant assets,and intangible assets.
B)Current assets,long-term assets,revenues,and intangible assets.
C)Current assets,investments,plant assets,and equity.
D)Current liabilities,investments,plant assets,and intangible assets.
E)Current assets,liabilities,plant assets,and intangible assets.

Question

Quizplus · Accepted Answer

The asset section of a classified balance sheet usually includes current assets (cash and other assets expected to be converted into cash within one year), investments (long-term investments that are not intended to be sold within one year), plant assets (tangible long-term assets used in the operations of the business), and intangible assets (long-term assets with no physical substance such as patents and trademarks). Therefore, choice A (Current assets, investments, plant assets, and intangible assets) is the best choice.

The Asset Section of a Classified Balance Sheet Usually Includes