An asset account that would not be included in current assets is
A) Merchandise Inventory.
B) Prepaid Insurance.
C) Store Equipment.
D) Supplies.

Question

Quizplus · Accepted Answer

Store Equipment is not considered a current asset because it is not expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer. Current assets include items like cash, inventory, and prepaid expenses that are expected to be used or converted into cash within a short period.

An Asset Account That Would Not Be Included in Current