Which statement about the balance sheet is true?
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A balance sheet lists the most liquid assets first and the least liquid assets last.
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The balance sheet for a given year tells us how the company’s activities affect its cash positions during that year.
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The amounts shown on the balance sheet are often book values, which are the same as the market values of the company’s stock.
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The difference between the total assets and liabilities reported on the balance sheet tells us the current market value of the shareholders’ equity, assuming the statements are prepared in accordance with generally accepted accounting principles (GAAP).