When Donna prepares her company's statement of financial position, she should include ___________ in the list of current assets.

Question

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Trade receivables are accounts receivable that are owed to the company by its customers and are expected to be collected within one year. Current assets are assets that are expected to be converted into cash or used up within a year, and trade receivables fit this definition. Equipment, land, and leased property are considered long-term assets and would not be included in the list of current assets.

When Donna Prepares Her Company's Statement of Financial Position, She