Which of the following statements about the narrative form of a balance sheet is true?
A) It resembles a T-shaped ledger account.
B) All elements of the balance sheet are listed in one column.
C) In Australia, the narrative form of balance sheet is less common than the account form.
D) It shows the accounting equation as Assets = Liabilities + Equity.

Question

Quizplus · Accepted Answer

The narrative form of a balance sheet lists all elements in a single column, unlike the account form which resembles a T-shaped ledger account.

Which of the Following Statements About the Narrative Form of a Balance