Which of the following is the BEST example of a current asset for a university bookstore?
A)the building in which the store is located
B)accounting software used to control store's inventory
C)credit card charges by book buyers
D)money paid for rent and utilities
E)salary paid to student employees

Question

Quizplus · Accepted Answer

Credit card charges by book buyers are considered a current asset because they represent receivables that can be converted into cash within a short period, typically less than a year, which is a characteristic of current assets.

Which of the Following Is the BEST Example of a Current