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Select the statement that best describes how liabilities are reported. A : Current and long-term liabilities are listed in one liabilities category. B : Each

Select the statement that best describes how liabilities are reported.

  • A : Current and long-term liabilities are listed in one liabilities category.

  • B : Each principal type of current liabilities is listed separately within the category.

  • C : Detailed terms of each principal type of liabilities are reported on the balance sheet.

  • D : Current and long-term notes payable are listed last, before stockholders equity.

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