How many of the following balance sheet items are classified as a current asset or current liability?
• Retained earnings
• Accounts payable
• Plant and equipment
• Inventory
• Common stock
• Bonds payable
• Accrued wages payable
• Accounts receivable
• Preferred stock
A) Three of these items.
B) Four of these items.
C) Five of these items.
D) Six of these items.

Question

How many of the following balance sheet items are classified as a current asset or current liability?
•	Retained earnings  
•	Accounts payable  
•	Plant and equipment 
•	Inventory 
•	Common stock  
•	Bonds payable  
•	Accrued wages payable  
•	Accounts receivable  
•	Preferred stock
A) Three of these items.
B) Four of these items.
C) Five of these items.
D) Six of these items.

Quizplus · Accepted Answer

Accounts payable, Inventory, Accrued wages payable, and Accounts receivable are classified as current assets or current liabilities.

How Many of the Following Balance Sheet Items Are Classified