Which of the following include only current assets?
A) Accounts receivable, cash, inventory, office supplies
B) Cash, accounts payable, inventory, office supplies
C) Cash, land, accounts receivable, inventory
D) Accounts receivable, cash, furniture, office supplies

Question

Quizplus · Accepted Answer

Accounts receivable, cash, inventory, and office supplies are all current assets because they are either cash or will be converted into cash within one year. The options in B, C, and D include items that are not current assets such as accounts payable, land, and furniture.

Which of the Following Include Only Current Assets