Current assets are assets and fixed assets are assets .
A) converted to cash during the accounting year; converted to cash during the accounting year
B) that have an expected life in excess of one year; that have an expected life in excess of one year
C) that have an expected life in excess of one year; converted to cash during the accounting year
D) converted to cash during the accounting year; that have an expected life in excess of one year

Question

Quizplus · Accepted Answer

Current assets are assets expected to be converted to cash within a year, while fixed assets are assets with a useful life of more than one year.

Current Assets Are Assets and Fixed Assets Are Assets