Assets are classified as either current or non-current. Current assets are:
A) expected to be turned into cash within 12 months.
B) goodwill.
C) the infrastructure assets.
D) all of the above.

Question

Quizplus · Accepted Answer

Current assets are defined as assets that are expected to be turned into cash within 12 months. Goodwill is an example of a non-current asset, as it represents a company's reputation and is not expected to be turned into cash within a year. Infrastructure assets can be both current or non-current, depending on their expected useful life.

Assets Are Classified as Either Current or Non-Current