Asset that can be converted into cash within a year are called _________asset

Name: Asset that can be converted into cash within a year are called _________asset
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Question

Quizplus · Accepted Answer

Current assets are assets that can be converted into cash within a year or within the operating cycle of the business, making option A the correct choice. Fixed assets are long-term assets not easily converted to cash, and wasting assets refer to resources that deplete over time, such as natural resources.

Asset That Can Be Converted into Cash Within a Year