Which of the following are items reported on a firm's balance sheet?

Sales revenue.
Cost of goods sold.
Net income.
Current assets.
None of these are correct.

Solutions

Expert Solution

Current assets

In asset side of balance one of the main portion is current asset, it include inventories,tarde receivables, cash and bank balance etc.

Net income belongs on the income statement rather than the balance sheet. It is doesn't specifically appear in balance sheet and it include shareholder's portion. Also cost of goods sold , sales revenue are main portion of income statement.

So, here only current assets is reported on a firm's balance sheet

jeff jeffy answered 1 year ago

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