Hello,

I am having trouble with Accounting homework. I hope you can help me out with the correct answer.

The question is: "Materials & supplies" are classified under which category in the classified balanced sheet?

Current assets Current liabilities
Long-term investments Long-term liabilities
Property, plant, and equipment Common stock
Intangible assets Retained earnings

For homework assignments, we get 3 out of 3 chances; however, I already used up 2 of my chances. I think I got the answer wrong by classifying "materials &supplies" as a "current asset" and the second time I put an answer, I can't remember which answer I selected.

This is a duplicate post and I already answered this post in the Education Homework Help Finance and Accounting Thread.