The term 'current assets' includes:

Name: The term 'current assets' includes:
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Current assets include cash, accounts receivable, business inventory, prepaid expenses, and other liquid assets expected to be converted to cash within a year. Allowances for uncollectible accounts are deductions from accounts receivable, not separate assets, but the term 'current assets' encompasses all items that can be converted into cash within a year, including the net accounts receivable after allowances.

The Term 'Current Assets' Includes