All of the following accounts are considered to be current assets on the balance sheet except:
A) cash
B) short-term investments or marketable securities
C) land
D) inventory

Question

Quizplus · Accepted Answer

Current assets are those that are expected to be converted into cash within one year or the operating cycle, whichever is longer. Cash, short-term investments or marketable securities, and inventory are all examples of current assets. Land, however, is a long-term asset and is not expected to be converted into cash within one year or the operating cycle, and thus is not considered a current asset on the balance sheet.

All of the Following Accounts Are Considered to Be Current