Liquidating current assets are really fixed assets since they have lives greater than one year.

Question

Quizplus · Accepted Answer

Liquidating current assets are not fixed assets. Current assets are assets that are expected to be converted into cash within a year or the normal operating cycle of a business. Fixed assets, on the other hand, are assets with an expected useful life greater than one year, such as property, plant, and equipment.

Liquidating Current Assets Are Really Fixed Assets Since They Have