Current assets are assets and fixed assets are assets .
A)that have an expected life in excess of one year;that have an expected life in excess of one year
B)converted to cash during the accounting year;that have an expected life in excess of one year
C)that have an expected life in excess of one year;converted to cash during the accounting year
D)converted to cash during the accounting year;converted to cash during the accounting year

Question

Quizplus · Accepted Answer

Current assets are expected to be converted to cash within one year, while fixed assets have an expected life of more than one year.

Current Assets Are Assets and Fixed Assets Are Assets