Which of the following should NOT be considered current assets in the statement of financial position?
A)instalment notes receivable due over eighteen months, in accordance with normal trade
Practice
B)prepaid taxes, which cover assessments for the current year
C)equity or debt securities purchased with cash available for current operations
D)franchises and copyrights

Question

Quizplus · Accepted Answer

Franchises and copyrights are intangible assets and are not considered current assets, as they are not expected to be converted into cash or used up within one year.

Which of the Following Should NOT Be Considered Current Assets