Cash is a:
A)long-term asset.
B)current asset.
C)current liability.
D)long-term liability.

Name: Cash is a: A)long-term asset. B)current asset. C)current liability. D)long-term liability.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

Cash is typically classified as a current asset because it is expected to be converted into cash within a year or less. This makes it different from long-term assets, such as property or equipment, which are expected to last for several years. Similarly, cash is not a liability, as it is not owed to anyone else.

Cash Is A