Which of the following would NOT likely appear on a classified balance sheet?

• A. Long-term Investments
• B. Intangible Assets
• C. Net Sales Revenue
• D. Current Liabilities

Answer: (C)

Verified step by step guidance

1. Understand the purpose of a classified balance sheet: It organizes assets, liabilities, and equity into specific categories to provide a clear financial position of a company.
2. Review the typical sections of a classified balance sheet: These include Current Assets, Long-term Investments, Property, Plant, and Equipment, Intangible Assets, Current Liabilities, Long-term Liabilities, and Equity.
3. Analyze the options provided: Long-term Investments, Intangible Assets, Current Liabilities, and Net Sales Revenue.
4. Recognize that Net Sales Revenue is part of the income statement, not the balance sheet. It represents the revenue earned from sales after deducting returns, allowances, and discounts.
5. Conclude that Net Sales Revenue would NOT appear on a classified balance sheet because it is not a balance sheet item but rather an income statement item.