Which of the following are included in current assets?
I.Equipment
II.Inventory
III.Accounts payable
IV.Cash
A)II and IV only
B)I and III only
C)I,II,and IV only
D)III and IV only
E)II,III,and IV only

Question

Quizplus · Accepted Answer

Inventory and cash are considered current assets as they are expected to be converted into cash or used up within a year. Equipment is a long-term asset, and accounts payable is a liability.

Which of the Following Are Included in Current Assets