Current assets include all of the following: cash, inventory, equipment, supplies, and accounts receivable.

Question

Quizplus · Accepted Answer

Equipment is not considered a current asset; it is classified as a long-term asset because it is expected to be used for more than one year. Current assets typically include cash, inventory, supplies, and accounts receivable, which are expected to be converted into cash within a year.

Current Assets Include All of the Following: Cash, Inventory, Equipment