How are assets that are expected to be realized in cash,sold,or consumed within the normal operating cycle of a business or within one year (if the operating cycle is shorter than one year)reported on a classified balance sheet?
A)Property,plant,and equipment
B)Current assets
C)Intangible assets
D)Current liabilities

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash or used up within the normal operating cycle of a business or within one year. This includes cash, accounts receivable, inventory, and prepaid expenses. Therefore, current assets are reported on the classified balance sheet.

How Are Assets That Are Expected to Be Realized in Cash,sold,or