A balance sheet prepared in a narrative format presents:
A) assets on the left and liabilities and equity on the right.
B) assets followed by equity then liabilities down the page.
C) assets followed by liabilities then equity down the page.
D) assets on the right and liabilities and equity on the left.

Question

Quizplus · Accepted Answer

A balance sheet prepared in a narrative format typically lists assets first, followed by liabilities, and then equity down the page, in that order. This is an alternative to the traditional T-account format, where assets are listed on the left and liabilities and equity are on the right.

A Balance Sheet Prepared in a Narrative Format Presents