A corporation may choose to list its operational assets in the current assets section of the statement of financial position.

Question

Quizplus · Accepted Answer

Operational assets are typically classified as fixed assets and are listed under the non-current assets section of the statement of financial position. Current assets generally include assets that are expected to be converted into cash or used up within one year, such as cash, accounts receivable, and inventory.

A Corporation May Choose to List Its Operational Assets in the Current