Which of the following MAY NOT appear on a company's statement of financial position?
A) Accounts receivable.
B) Prepaid insurance.
C) Equipment under long-term capital leases.
D) Short-term investment in common stock.

Question

Quizplus · Accepted Answer

Equipment under long-term capital leases may not appear on a company's statement of financial position because it is typically recognized as a right-of-use asset and lease liability under current accounting standards, rather than being listed as owned equipment.

Which of the Following MAY NOT Appear on a Company's