Which of the Following Is Descriptive of the Proper Form

Which of the following is descriptive of the proper form of a balance sheet?

A) The heading sets forth the period of time covered.
B) Cash is always the first asset listed, followed by permanent assets (such as land and buildings) , and finally by assets such as receivables and supplies.
C) Liabilities are listed before owners' equity.
D) A subtotal for total assets plus total liabilities is shown.

Correct Answer:

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