Which of the following is NOT a current asset?
A)Accounts receivable
B)Prepaid insurance
C)Cash
D)Equipment

Question

Quizplus · Accepted Answer

Equipment is classified as a fixed asset, as it is not expected to be consumed or converted into cash within one year or the operating cycle (whichever is longer). Current assets are expected to be realized in cash, sold or consumed within one year or the operating cycle. Accounts receivable, prepaid insurance, and cash are all examples of current assets.

Which of the Following Is NOT a Current Asset