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de whether each of the following statements, regarding the Classified Balance Sheet, is true or false. 1. Liabilities are listed on the classified balance sheet

de whether each of the following statements, regarding the Classified Balance Sheet, is true or false. 1. Liabilities are listed on the classified balance sheet in order of maturity, meaning how soon they are due to be paid. 2. Assets are listed on the classified balance sheet in order of liquidity, meaning how easily the assets can be converted into cash. 3. One limitation of a classified balance sheet is that it omits the current financial state of the economy

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