A form of balance sheet that lists the liabilities and the owner's equity sections below the assets section is called the
A) account form.
B) journal form.
C) report form.
D) current form.

Question

Quizplus · Accepted Answer

The report form of a balance sheet lists the assets section above the liabilities and the owner's equity sections, typically in a vertical format, making it easy to read and understand the financial position of a business.

A Form of Balance Sheet That Lists the Liabilities and the Owner's