Currents assets are cash and other assets such as inventory,accounts payable,and prepaid expenses that can be converted into cash within a year.

Question

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Current assets include cash and other assets such as inventory, accounts receivable, and prepaid expenses that are expected to be converted into cash, sold, or consumed within a year. Accounts payable is not a current asset; it is a current liability.

Currents Assets Are Cash and Other Assets Such as Inventory,accounts