Which of the following refers to items that can be converted into cash within one year?

Question

Quizplus · Accepted Answer

Current assets are items that can be easily converted into cash within one year, including cash and cash equivalents, accounts receivable, inventory, and prepaid expenses. Fixed assets are long-term assets that cannot be easily converted into cash, such as property, plant, and equipment. Current liabilities are debts that are due within one year, while owners' equity represents the residual interest in the assets of the company after deducting liabilities.

Which of the Following Refers to Items That Can Be