I have a question about the Balance Sheet. Is it true that there are two formats (Account Form and Report Form)?Secondly when listing Assets on the Balance Sheet there is an order to following with assets. Example Current Assets are listed first and in order of liquidity. Then the Long Term Assets. Now where to Tangible and Non Tangible Assets fit into this format?

Which of the following describes how assets are listed onthe balance sheet?a. In alphabetical order.b. In order of magnitude, lowest value to highestvalue.c. In the order they will be used up or turned intocash.d. From least current to most current

Which of the following is NOT TRUE about the basic and additional financial statements?   a) Basic financial statements are prepared according to the accrual basis of accountingb) Basic financial statements are comprised of balance sheet , income statement , statement of changes in equity and the statement of cash flowsc) Assets and the financial sources of assets as of a certain date are presented on the balance sheetd) Financial sources of assets are comprised of current and long term liabilities and equity

Which one of the following options is correct about current assets Select one: a. Current assets are long term assets b. Current assets are not recorded inside the balance sheet rather in the notes section. c. Account receivable & cash are current assets d. Current assets are depreciable.

In the balance sheet, assets are listed by ___? A. The importance of the asset B. their date of purchase C. the order of liquidity D. The value of the assets

Define financial assets and explain their valuation in the balance sheet.

What accounting concepts are used in the balance sheet (mainly on assets) based on the data provided below?

Which of the following best describes the statement of profit or loss?A It is a summary of assets and expenses at a specified dateB It is a summary of cash receipts and payments made during an accounting periodC It is a summary of assets, liabilities, income and expenses at a specified dateD It is a summary of income and expenditure for an accounting period

Prepayments are presented: A. in statement of financial position as assets B. in statement of financial position as liabilities C. in statement of financial position as equity D. in statement of profit or loss(Explain your solution)

Goodafternoon Please help with the following: a. list the detail current assets b. list the non-current assets c. list the liabilities d. list the non current liabilities e. list the net assets/equity