Current assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle.

Name: Current assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted to cash or used up within one year, while current liabilities are obligations that are expected to be paid within one year or the company's operating cycle, whichever is longer.

Current Assets and Current Liabilities Are Expected to Be Used