Under which of the following categories would Inventory appear?
A) Current assets
B) Current liabilities
C) Long-term assets
D) Long-term liabilities

Question

Quizplus · Accepted Answer

Inventory is considered a current asset because it is a tangible asset that can be sold or used in the normal course of business within one year. It is also typically one of the largest current assets in a company's financial statements. Current assets are those that are expected to be converted into cash or used up within one year.

Under Which of the Following Categories Would Inventory Appear