A current asset is
A)the last asset purchased by a business.
B)an asset that is not currently being used to produce a product or service.
C)usually found as a separate classification in the statement of income.
D)expected to be converted to cash or used in the business within a relatively short period of time.

Question

Quizplus · Accepted Answer

Current assets are assets that a company expects to convert to cash or use up within one year or within the operating cycle, whichever is longer. This includes items like cash, accounts receivable, and inventory.

A Current Asset Is