Identify a true statement about current assets.
A) They include the long-term assets of a firm.
B) They are resources that a firm expects to convert into cash within a year.
C) They are resources that a firm decides to set aside to pay its long-term liabilities.
D) They include a firm's tangible assets, such as machinery and equipment.

Question

Quizplus · Accepted Answer

Current assets are resources that a firm expects to convert into cash within a year.

Identify a True Statement About Current Assets