Current assets are assets expected to be converted to cash, sold, or consumed:
A) within the next 12 months or within the business's normal operating cycle if longer than a year
B) within the next 6 months
C) within the next 24 months
D) within the next 12 months or within the business's normal operating cycle if less than a year

Question

Quizplus · Accepted Answer

Current assets are expected to be converted to cash, sold, or consumed within the next 12 months or within the business's normal operating cycle, even if that cycle is longer than a year.

Current Assets Are Assets Expected to Be Converted to Cash