The terms current and short term are used interchangeably when discussing assets and liabilities because these assets and liabilities
A) will always be more current than previously established assets and liabilities.
B) are constantly evolving, so they are constantly considered to be current.
C) are replaced with new assets and liabilities every five years.
D) are usually replaced by new assets and liabilities within a week.
E) are usually replaced by new assets and liabilities within three or four months, and always within a year.

Question

Quizplus · Accepted Answer

The terms current and short term are used interchangeably because short-term assets and liabilities are usually replaced by new assets and liabilities within three or four months, and always within a year.

The Terms Current and Short Term Are Used Interchangeably When