Acct 117 Name Current asserts in a classified balance sheet are listed: a by order of expected conversion to cash or consumed in less than a year. b by importance c by longevity d alphabetically 4)a Which of the following is an activity of FINANCING? a purchasing the assets needed to operate the busness creating/selling goods & services to outsiders c obtaining funds to begin & run the business. paying creditors in the normal operating of the business Which principle dictates that expenses be recorded with related revenues ? a The matching principle b Cost principle c Periodicity principle d IRS guide lines 5_