A balance sheet that places the assets above the liabilities and equity is called a(n)
A) Report form balance sheet
B) Account form balance sheet
C) Adjusted balance sheet
D) Unadjusted balance sheet
E) The accounting equation

Question

Quizplus · Accepted Answer

A report form balance sheet places the assets above the liabilities and equity and is considered to be a more user-friendly format for non-accounting professionals to read and understand.

A Balance Sheet That Places the Assets Above the Liabilities