Under U$.$S$.$ GAAP, current assets are listed according to their expected liquidity, with the most liquid

current assets listed first and the least liquid current assets listed last. How would you describe the listing

sequence of current assets for LVMH$?$

Under U$.$S$.$ GAAP, the balance sheet equation is defined as A $=$ L $+$ SE$.$ LVMH replaces the label "share$-$

holders' equity" with just "equity." What might explain this difference in labeling of this section of the

consolidated balance sheet?