Multiple Choice Question

Describe an unclassified balance sheet.

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

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

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.

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