Describe an unclassified balance sheet.

An unclassified balance sheet is one where assets are separated into operating assets and non$-$operating assets.

An unclassified balance sheet organizes assets and liabilities into important subgroups.

An unclassified balance sheet lists all operating expenses separate from its non$-$operating expenses.

An unclassified balance sheet is one whose items are broadly grouped into assets, liabilities, and equity.