The report form is the type of balance sheet where assets, liabilities, and owner's equity are listed in decreasing order is true.
A balance sheet that displays asset, debt, and equity accounts vertically is known as a report form balance sheet. The account format and the report format are the two standard formats used for balance sheets in financial reporting.
The asset accounts are on the left side of the account format, and the liability and equity accounts are on the right. All of the accounts are displayed vertically in the report format. Although the report form is the more common option, both balance sheet formats are acceptable.
Learn more about Balance sheet here:
https://brainly.com/question/27334743
#SPJ4
