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QUESTION
When a classified balance sheet is prepared, merchandise inventory is: Not reported as a current asset because it is not sufficiently liquid.
When a classified balance sheet is prepared, merchandise inventory is:
Not reported as a current asset because it is not sufficiently liquid.
Usually listed after prepaid expenses according to its nearness to liquidity.
Reported as a current asset.
Usually reported before accounts receivable according to its nearness to liquidity.
Reported as a current liability.
