Social class is not determined by a single factor, such as income, but is measured as a combination of occupation, income, education, wealth, and other variables

Company C established a $1 million credit line with Bank B and drew down $600,000. As a result of these events, Bank B has a $1,000,000 asset - a loan to C, and Company C has a $600,000 liability - borrowing from B.

a. true b. false

Assets are listed in the order of their ________ on the balance sheet

A) magnitude B) dates of purchase C) liquidity D) durability