Current assets include
A)inventory and accounts receivable.
B)accounts payable and cash.
C)cash and intangible assets.
D)inventory and accounts payable.
E)buildings and equipment.

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash within one year or one operating cycle, whichever is longer. Inventory and accounts receivable are two common types of current assets. Accounts payable and cash are not considered current assets, while intangible assets and buildings/equipment are not always considered current assets (as they may have longer expected lifetimes before conversion to cash).

Current Assets Include