1. Noncurrent assets are listed on which statement? a. Adjusted trial balance. b. Statement of shareholders' equity. c. Balance sheet. d. Income statement. 2. True or false: The balance sheet is prepared before the income statement. a. True b. False 3. All of the following are noncurrent assets except a. Prepaid items. b. Licenses. c. Investments. d. Natural resources.

1. Noncurrent assets are listed on which statement? a. Adjusted trial balance. b. Statement of shareholders' equity. c. Balance sheet. d. Income statement. 2. True or false: The balance sheet is prepared before the income statement. a. True b. False 3. All of the following are noncurrent assets except a. Prepaid items. b. Licenses. c. Investments. d. Natural resources