Which of the following is not true about the balance sheet? a. Assets are on the...

Which of the following is not true about the balance sheet?

a. Assets are on the left and liabilities on the right.
b. Assets are listed in order of their liquidity.
c. Accountants have no discretion regarding balance sheet items.
d. Overdue receivables can be retained or written off.
e. All of the above are true

Expert Solution

Ans- Option C. Accountants have no discretion regarding balance sheet items.

Accounts can excerise descretion regarding balance sheets, as they make judgements while preparing Balance sheets

- All other options are correct

jeff jeffy answered 2 years ago

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