Which of the following items are shown on a classified balance sheet? Select the three that apply.

• A. Stockholders’ equity
• B. Current assets
• C. Long-term liabilities
• D. Net sales revenue

Answer: (C)

Verified step by step guidance

1. Understand that a classified balance sheet organizes assets and liabilities into subcategories to provide more detailed information about a company's financial position.
2. Identify that 'Current assets' are shown on a classified balance sheet under the assets section, representing assets expected to be converted into cash or used within one year.
3. Recognize that 'Long-term liabilities' are shown on a classified balance sheet under the liabilities section, representing obligations due beyond one year.
4. Know that 'Stockholders’ equity' is shown on a classified balance sheet as the residual interest in the assets of the company after deducting liabilities.
5. Understand that 'Net sales revenue' is not shown on the balance sheet because it is part of the income statement, which reports revenues and expenses over a period of time.