Current assets are acquired and consumed during the operating cycle or the accounting period.

Name: Current assets are acquired and consumed during the operating cycle or the accounting period.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be consumed or converted to cash within the operating cycle or accounting period. Examples include cash, accounts receivable, inventory, and prepaid expenses.

Current Assets Are Acquired and Consumed During the Operating Cycle