required by GAAP sorts and subtotals the assets and liabilities into groups BASED ON LIQUIDITY when the
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required by GAAP
sorts and subtotals the assets and liabilities into groups BASED ON LIQUIDITY
when the asset is expected to convert into cash and the liability is expected to be paid
common groups are...current assets, current liabilities, property plant and equipment, intangible assets, long-term liabilities
as of a particular point in time
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