Which of the following items should never be included in the current assets section of the balance sheet?
A) Receivable from a customer outstanding for more than a year
B) Deferred income taxes resulting from interperiod tax allocation
C) Three-year premium for fire insurance on plant and equipment
D) A pension fund

Question

Quizplus · Accepted Answer

A pension fund is a long-term investment and liability, not a current asset, as it is not expected to be converted into cash or used up within one year.

Which of the Following Items Should Never Be Included in the Current