Which one of the following is not a current asset?
A)Cash
B)Supplies
C)Equipment
D)Prepaid Insurance

Name: Which one of the following is not a current asset? A)Cash B)Supplies C)Equipment D)Prepaid Insurance
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Question

Quizplus · Accepted Answer

Cash,Supplies,and Prepaid Insurance are current assets because they will be used up or converted to cash within 12 months of the date of the balance sheet.Equipment is classified as a noncurrent asset because it will be used over a number of years.

Which One of the Following Is Not a Current Asset