Question: Under U . S . GAAP, current assets are listed according to their expected liquidity, with the most liquid current assets listed first and the

Under U.S. GAAP, current assets are listed according to their expected liquidity, with the most liquid
current assets listed first and the least liquid current assets listed last. How would you describe the listing
sequence of current assets for LVMH?
Under U.S. GAAP, the balance sheet equation is defined as A = L + SE. LVMH replaces the label "share-
holders' equity" with just "equity." What might explain this difference in labeling of this section of the
consolidated balance sheet?
Under U.S. GAAP, current assets are listed according to their expected

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