Asked by Isabella Cardenas on May 25, 2024
Verified
Which of the following is the most appropriate way to display liabilities on the balance sheet?
A) nearness to maturity
B) relative likelihood of payment
C) order of magnitude
D) alphabetically by payee
Nearness to Maturity
The time remaining until a financial instrument reaches its specified maturity date, affecting its price and interest rate sensitivity.
Balance Sheet
A report detailing a firm's assets, liabilities, and owners' equity at a particular moment.
Order of Magnitude
A classification of scale or size of a quantity, where each class is ten times greater or smaller than the one before.
- Understand the methods of accounting for and disclosing current liabilities.
Verified Answer
Learning Objectives
- Understand the methods of accounting for and disclosing current liabilities.
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