Question

All of the following would be reported on the balance sheet as a current asset except a.factory overhead b.finished goods inventory c.work in process inventory d.materials inventory

Answer 1

Answer: Factory Overhead

Explanation:

Current assets are the assets that a particular company is expected to either use or sell for a current fiscal year during business operations. Examples of current assets are cash, stock Inventory, marketable securities, cash equivalents, accounts receivable, work in process Inventory etc.

Factory overhead isn't reported on the balance sheet as a current asset.