Which of the following is not classified as a current asset?
A)Supplies
B)Short-term (trading)investments
C)A fund to be used to purchase a building within the next year
D)Equipment with an estimated useful life of five years

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted to cash or used within one year. Supplies and short-term investments are examples of current assets. A fund to be used to purchase a building within the next year is also a current asset. However, equipment with an estimated useful life of five years is a long-term asset and not classified as a current asset.

Which of the Following Is Not Classified as a Current