The current assets section of the balance sheet should include
A) machinery.
B) patents.
C) goodwill.
D) inventory.

Question

Quizplus · Accepted Answer

The current assets section of the balance sheet should include assets that are expected to be converted into cash within one year or within one operating cycle, whichever is longer. Inventory is a current asset because it is expected to be sold within one year. Machinery, patents, and goodwill are long-term assets and should be listed in the non-current assets section of the balance sheet.

The Current Assets Section of the Balance Sheet Should Include