Listed below are selected accounts for Tercek Company, Inc. Select a letter from the following key and place it in the space to the left of the account title to indicate the proper balance sheet classification for the accou
-Cash
A) Current asset
B) Property, Plant, and Equipment
C) Current liability
D) Long-term liability
E) Stockholders' equity
F) Not a balance sheet account

Question

Quizplus · Accepted Answer

Cash is considered a current asset because it is available for use in the near term (usually within one year) and is used to fund day-to-day operations.

Listed Below Are Selected Accounts for Tercek Company, Inc