Which of the following can be both a current asset and a current liability?

Question

Quizplus · Accepted Answer

All of the above options (Treasury notes, Commercial bills, Promissory notes) can be classified as both current assets and current liabilities depending on the holder's perspective and the nature of the transaction. For example, if a company holds these instruments as investments or for trading purposes, they are considered current assets. Conversely, if the company has issued them, they are considered current liabilities.

Which of the Following Can Be Both a Current Asset