What is the key distinction between current and non- current assets?
A)Current assets will be used up or converted to cash within one year or one operating cycle.
B)Non- current assets will not be used until the future.
C)Non- current assets are assets which do not lose their value over time.
D)Current assets always have lower balances than non- current assets.

Question

Quizplus · Accepted Answer

Current assets are expected to be used up or converted into cash within one year or one operating cycle, whereas non-current assets are long-term and not expected to be converted into cash within this timeframe.

What Is the Key Distinction Between Current and Non- Current