As defined in the text, cash and other items that are expected to be converted into cash or consumed in the operation of the business during a period of one year or less are known as __________.
A) current assets
B) current liabilities
C) consumables
D) inventories
E) None of the answers apply.

Question

Quizplus · Accepted Answer

Current assets are items that are expected to be converted into cash or consumed within one year or less.

As Defined in the Text, Cash and Other Items That