Which of the following would not be classified as a Current Asset:
A)Cash
B)Accounts Receivable
C)Equipment
D)Supplies

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash within one year or one operating cycle. Cash (A), accounts receivable (B), and supplies (D) are all examples of current assets because they are expected to generate cash within one year or one operating cycle. Equipment (C), on the other hand, is a long-term asset and is not expected to be converted into cash within one year or one operating cycle.

Which of the Following Would Not Be Classified as a Current