Which of the following is classified as a current asset?
A)Office equipment.
B)Patent.
C)Unearned revenue.
D)Office supplies.
E)Land.

Question

Quizplus · Accepted Answer

Office supplies are classified as a current asset because they are expected to be used up or sold within a year. The other choices are not current assets - office equipment, patent, and land are typically classified as long-term assets, while unearned revenue is a liability.

Which of the Following Is Classified as a Current Asset