WGU C213 FINAL EXAM QUESTIONS AND ANSWERS 2024-2025
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WGU C213 FINAL EXAM QUESTIONS AND ANSWERS 2024-2025 Order of assets listed on the balance sheet Assets are listed in the order of liquidity. Liquidity is the amount of time it would usually take t... o covert an asset into cash. Obviously, cash would be listed first, followed by marketable investments (a company can quickly convert a short-term investment into cash). Accounts receivable would be listed next followed by inventory, and long-term investments, fixed assets, and intangibles. Current assets are listed before long-term assets. Current liabilities are listed before long-term liabilities, but there is no specific order they are listed in outside of current and long-term. There is also no specific order equity accounts are listed on the balance sheet; although, typically you will see paid-in-capital followed by retained earnings followed by accumulated other comprehensive income, and lastly, treasury stock [Show More]
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