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22. The current asset section of the balance sheet should Includ A. Equipment B. Taxes Payable C. Trademarks D. Bonds Payable E. None of the Above Treasury stock is best classified as: A. A Current Asset B. A Long-Term Investment C. A Contra-Liability D. A Reduction of Stockholders' Equity E. None of the Above Which of the following is not a proper use of footnotes A. To describe the nature and effect of a change is accounting principle, such as from FIFO to LIFO B. To indicate the basis for asset valuation C. To indicate the method of depreciation D. To correct an improper financial statement presentation E Todocarbo