What are the general guidelines in terms of the classification of income statement and balance sheet items to operating, investing, and financing activities Give an example of an exception to these guidelines ...

In general terms current assets and current liabilities relate to accruals contained in ...

What are the general guidelines in terms of the classification of income statement and balance sheet items

Question:

What are the general guidelines in terms of the classification of income statement and items to operating, investing, and financing activities? Give an example of an exception to these guidelines.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...