What is the key distinction between current and non-current assets?
A) Current assets will be used up or converted to cash within one year or one operating cycle.
B) Non-current assets are assets which do not lose their value over time.
C) Current assets always have lower balances than non-current assets.
D) Non-current assets will not be used until the future.

Question

Quizplus · Accepted Answer

The key distinction between current and non-current assets is that current assets will be used up or converted to cash within one year or one operating cycle while non-current assets will not be used until the future.

What Is the Key Distinction Between Current and Non-Current Assets