MO Question 6 3 points Saraw Fill in the blank with the best choice below: are cash and other assets that are expected to be converted to cash or sold or used up, usually within one year or less through the normal operations of the business current liabilities current assets other assets current ratio Moving to another question will serve this response Question 5 Freight costs incurred by a seller on merchandise sold to customers will cause an increase to the cost of goods sold of the seller. in the selling expenses of the buyer. to a contra-revenue account of the seller. in operating expenses for the seller. Question 4 Each of the following has a normal debit balance except: Sales Returns and Allowances. Purchases Returns and Allowances. Sales Discounts. Purchases Question 3 On a classified balance sheet, companies usually list current assets in the order in which they are expected to be converted into cash. with the largest dollar amounts first. in the order of acquisition. 10 in alphabetical order