current assets section of the balance sheet

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The balance sheet debit column of the worksheet for ABSB Company includes the following accounts: Accounts Receivable $10,000, Cash $5,000, Supplies 4,000, Prepaid Insurance $6,000, Short-term Investments 7,500, Building $50,000, Automobile $20,000. Prepare the current assets section of the balance sheet, listing the current assets in proper sequence.

Fraud experts often say that there are three principal factors that contribute to fraud. Identify and explain each of these factors.

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