Which of the following is the BEST example of a current asset for a clinical psychologist?
A) the building in which his clinic is located
B) money he pays for rent and utilities
C) credit card charges by patients
D) his reputation as a compassionate man

Question

Quizplus · Accepted Answer

Credit card charges by patients represent current assets because they are payments that are expected to be received within a short period of time. Option A (the building in which his clinic is located) and option B (money he pays for rent and utilities) are fixed assets and expenses, respectively. Option D (his reputation as a compassionate man) is an intangible asset, but it is not a current asset.

Which of the Following Is the BEST Example of a Current