A major difference between current and non-current assets is that the future benefits of current assets will expire in a short period of time, whereas the future benefits of all non-current assets will decline over a longer period.

Question

Quizplus · Accepted Answer

Current assets are expected to be used or consumed within a year or the normal operating cycle of the business, while non-current assets have a useful life of more than one year and their future benefits will decline over that period.

A Major Difference Between Current and Non-Current Assets Is That