Question

Select the correct text in the passage. Which sentence describes a correct step in preparing a balance sheet? Lisa needs to present the balance sheet to her manager by evening. She shows the unpaid mortgages under current liabilities. She includes the investments in other companies’ bonds under the property, plant, and equipment section. She includes the advance payments given to suppliers under current assets. She shows franchises under long-term liabilities.

Answer 1

Inclusion of advance payment to suppliers in the current assets is right. Others are wrong

Step-by-step explanation: