Which of the following are considered current assets?

Question

Quizplus · Accepted Answer

Current assets are assets that can be converted to cash within one year or the operating cycle of a business. Therefore, cash, any asset that can be converted to cash in less than one year (such as short-term investments), and accounts receivable (which represent money owed to the business by customers) are all considered current assets. Buildings and land, on the other hand, are considered non-current or long-term assets because they are not typically intended for sale within the next year.

Which of the Following Are Considered Current Assets