Conceming the Balance Sheet Select one OA. A high level of Goodwill is greatly desired and leads to increased profit returns OB Current Assets are cash or will be converted to cash within twelve months or one operating cycle if it is longer than twelve months. OC. We like to avoid a high level of current liabilities due to the high finance/interest costs these types of liabilities pose to our company OD. The treasury stock line item appears in the Equity section of the balance sheet and increases my total equity levels OE. Long-term debt is never a good thing to see on the balance sheet and generally leads to the ruin of companies It feel that I will be unable to collect all of my Accounts Receivable, I will establish a reserve account on my balance sheet to account for AR I am unable to collect and that account is typically referred to as Select one: O A The Allowance for Amortization OB. The Allowance for Doubtful Accounts OC Bad Debt Expense OD. Doubtful Accounts Expense DE Gross Receivables