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A classified balance sheet D. Shows subtotals for current assets and current liabilities.
The asset, liability, and equity totals on a classified balance sheet are the same as those on an unclassified balance sheet, but they are presented in more detail and are divided into different categories rather than being listed in the conventional balance sheet style.
There is no one right way to create a classified balance sheet; it depends on the sort of firm you operate what classifications are utilized. Unclassified and classified balance sheets differ in several ways in formatting, while classified balance sheets are intended to show specifics.
Asset, debt, and equity balances are included in both an unclassified and a classified balance sheet, but an unclassified balance sheet does not categorize the amounts; it merely displays them under the appropriate categories.
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