Question

In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.

A. Current assets

B. Long-term investments

C. Plant assets

D. Intangible assets

E. Current liabilities

F. Long-term liabilities

G. Equity

13. Cash

Short answer

The correct answer isA. Current assets

Step-by-step solution

Definition of Cash

The asset used by the organization to pay their obligations related to a particular accounting period is termed as cash; it is the currency notes acceptable nationally.

Reason of choice

As the cash provides benefits in a brief period, it should be disclosed under the current asset section of the balance sheet. Cash is the most liquid asset of the organization.