Current assets are those that are easily converted into cash.
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Q41: The accrual method of accounting gives a
Q42: The cash basis of accounting always provides
Q43: The accrual basis of accounting records sales
Q44: The income statement compares the possessions of
Q45: A company's possessions are called liabilities.
Q47: Current assets include vehicles and renovations.
Q48: Fixed assets are those that are attached
Q49: Machinery and equipment are current assets.
Q50: Liabilities are classified as current and long
Q51: Current liabilities include accounts payable and accrued
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