Balance Sheet

$($P $3-$I$3$ CONTINUED$)$

j$.$ The Current Assets section of the balance sheet should include

Inventory.

Taxes payable.

Land.

Patents.

Bonds payable.

$k.$ Which of the following is not a typical current liability?

Accounts payable

Wages payable

Interest payable

Pension liabilities

Taxes payable

Which of the following is a current liability?

Unearned rent income

Prepaid interest

Land

Common stock

None of the above.

m$.$ Treasury stock is best classified as a

Current liability.

Current asset.

Reduction of stockholders' equity.

Contra asset.

Contra liability.

n$.$ Considering IFRSs, which of the following statements would be consi

IFRSs do not require a standard format for the balance sheet.

With IFRSs, usually nonconcurrent assets are presented first, followe

Under IFRS for liabilities and owners' equity, capital and listed res listed first, then noncurrent liabilities, and then current liabilities la

The reserves section of capital and reserves would not be part of $U$

All of these item whe which of the to be true.

IAS introduced a number of IFRRS. statements are not mandatory.

The IFRS model consolidary. an emphasis on liquidity.

Under IFRS, noncontrolli.