When Erica calculates the current assets for her picture framing business, she should not include which of the following?
A) Her accounts payable
B) The money in her cash register
C) Office supplies
D) Her accounts receivable
E) The store's inventory of matting

Question

Quizplus · Accepted Answer

Current assets can normally be converted to cash within one year. For retailers, current assets are primarily cash, merchandise inventory, and other assets such as accounts receivable.

When Erica Calculates the Current Assets for Her Picture Framing