Which of the following is true of current assets?
A) They include the long-term assets of a firm.
B) They are resources that a firm expects to use up within a year.
C) They include a firm's tangible assets, such as machinery and equipment.
D) They are resources that a firm decides to set aside to pay its long-term liabilities.

Question

Quizplus · Accepted Answer

Current assets are resources that a firm expects to use up or convert into cash within one year.

Which of the Following Is True of Current Assets