37- -Which of the following is not one of the balance sheet principles of assets ? a)Assets that are used in business activities for more than one year and do not turn into money within one year are shown in the Current Assets group in the balance sheet. B)In order to be able to present the assets with their fair values at the balance sheet date, impairments in assets should be shown and appropriate provisions should be made. NS)In order to show the bills receivable in the current assets and fixed assets groups with their fair values on the balance sheet date, rediscount transactions should be made on the bills. D)Expenses for future periods paid in advance and income accrued in the current period but to be collected in future periods should be shown separately in the balance sheet. TO)Receivables; Securities, subsidiary securities and parts of liabilities that belong to partnerships, personnel, affiliates and subsidiaries with which the enterprise is related in terms of capital and management should be shown separately.

Balance sheet shows the financial position of the company that represents that the asset is equal to…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

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Problem 3MC: Revenues and expenses must be recorded in the accounting period in which they were earned or...

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Which of the following is not one of the balance sheet principles of assets ?

a)	Assets that are used in business activities for more than one year and do not turn into money within one year are shown in the Current Assets group in the balance sheet.

B)	In order to be able to present the assets with their fair values at the balance sheet date, impairments in assets should be shown and appropriate provisions should be made.

NS)	In order to show the bills receivable in the current assets and fixed assets groups with their fair values on the balance sheet date, rediscount transactions should be made on the bills.

D)	Expenses for future periods paid in advance and income accrued in the current period but to be collected in future periods should be shown separately in the balance sheet.

TO)	Receivables; Securities, subsidiary securities and parts of liabilities that belong to partnerships, personnel, affiliates and subsidiaries with which the enterprise is related in terms of capital and management should be shown separately.

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