The principal short-term assets are:
i.cash; II)accounts receivable; III)inventories; and IV)accounts payable
A)I only
B)I and IV only
C)I,II,and III
D)IV only

Question

Quizplus · Accepted Answer

The principal short-term assets are cash, accounts receivable, and inventories. Accounts payable is a liability, not an asset. Therefore, the best choice is C, which includes cash, accounts receivable, and inventories but not accounts payable.

The Principal Short-Term Assets Are