A current asset is one that can or will be converted into cash within one year.

Name: A current asset is one that can or will be converted into cash within one year.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A current asset is defined as an asset that can be converted into cash or used up within one year or one operating cycle, whichever period is longer. Examples of current assets include cash, accounts receivables, inventory, and prepaid expenses.

A Current Asset Is One That Can or Will Be