Which of the following is included within current assets on a balance sheet?

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted to cash within a year or within the operating cycle of a business. Inventory, being goods that are held for sale or use in the normal course of business, is included in current assets. Land and a truck are fixed assets that are not expected to be converted to cash within a year, and intangible assets (such as patents or trademarks) are also excluded from current assets.

Which of the Following Is Included Within Current Assets on a Balance