On the classified balance sheet, the assets are listed in sections: Current Assets, Long-term Investments, PP&E, Intangible Assets, and Other Assets. Do all of these need to be in order of liquidity?
For example, does it matter if Land is before Buildings and Equipment in the PP&E section?
Or that Cash surrender value of life insurance is before Land held for future use?
Also, is there any order for the liabilities section? Is it alright to just put it in order of largest to smallest?