Classification of terms for the balance sheet
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Classification of terms for the balance sheet

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  • Notes
  • Discuss This Topic
    Dane S.
    ZA
    Dane S.

    What is a current liability?

    Teresa W.
    US
    Teresa W.

    I believe so. Because long term or non-current liability means less/longer access to the asset being able to be converted into cash. Cash = Liquid.

    Karen T.
    CO
    Karen T.

    well explained. The Balance sheet gives us resumed information of the company. the current assets, non current assets, current liabilities, non current liabilities and propriertorship

    Floyd S.
    US
    Floyd S.

    understood

    Arianna L.
    US
    Arianna L.

    Please give me an example of current and non current asset

    Althea G.
    VC
    Althea G.

    so current and non current classification helps assess liquidity, is that right?

    Mohamed F.
    SA
    Mohamed F.

    understood

    Ernest A.
    GH
    Ernest A.

    I understood the explanation of the classification but did not get the understanding. Someone brief me on the example.

    Reggie F.
    PH
    Reggie F.

    we can consider office fixtures and office equipment as assets right? But is it correct to say that they are non-current assets?

    Anasooya P.
    IN
    Anasooya P.

    what do you mean by proprietorship?

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