9. What controlling principle usually governs the order of these sections and the items within each section?
10. Give an outline of the group arrangement of the balance sheet.
11. State and describe the two methods of arranging the three main classes of balance sheet items. Which method is usually preferred?
12. How is a valuation account usually shown on the balance sheet? Give examples.
13. Tell what you know of the statutory requirements governing the frequency of financial statements of both financial and public service corporations.
14. What are the reasons for having a condensed balance sheet? What precautions must be taken when condensing a balance sheet?
15. Enumerate several of the purposes which a balance sheet may serve.
Chapter V
1. What points demand consideration before an accountant can definitely arrive at the content of a balance sheet?
2. State the chief purpose for valuing the assets of public utilities.