Question: Listed below are items that may appear on a classified balance sheet. 1. Land 2. Amounts due from customers 3. Office building 4. Truck 5.

Listed below are items that may appear on a classified balance sheet.
1. Land
2. Amounts due from customers
3. Office building
4. Truck
5. Goods held for resale
6. Amounts owed to others
7. Patent
8. Timberland
9. Land held as investment
10. Goodwill

Required:
Indicate whether each item is included as an operating asset on a classified balance sheet.
If not included as an operating asset, indicate the proper balance sheet classification.

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