Which one of the following statements is true? a) Assets are listed below liabilities on the income
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Question:
Which one of the following statements is true?
a) Assets are listed below liabilities on the income statement
b) On the income statement, liabilities are listed in order of liquidity
c) On the balance sheet, assets are listed in sequence accounting to their level of liquidity
d) Revenues are listed before expenses on the balance sheet
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