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Just like the balance sheet distinguishes current assets from non-current ones, it also reports current and...

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Accounting

Just like the balance sheet distinguishes current assets fromnon-current ones, it also reports current and non-currentliabilities?

What is the difference between these two categories?

Why do we distinguish current items from non-current ones?

Answer & Explanation Solved by verified expert
4.1 Ratings (724 Votes)
Answer Balance sheet shows financial position on particular date of an organization There are two parts of Balance sheet 1 Assets 2 Liabilities All assets items classify in fixed assetsnon current assets like land building plant and machinery intangible assets    See Answer
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