An item that may be converted to cash within one year or one operating cycle of the firm is classified as a

Name: An item that may be converted to cash within one year or one operating cycle of the firm is classified as a
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Current assets are those that are expected to be converted to cash within one year or one operating cycle of the firm. Examples of current assets include cash, accounts receivable, inventory, and prepaid expenses.

An Item That May Be Converted to Cash Within One