Assets that are expected to be converted into cash within a year are best described as:
A) total assets.
B) current assets
C) long-term assets
D) net working capital.

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash within one year or within the operating cycle of the business, whichever is longer. This includes items such as cash, accounts receivable, and inventory.

Assets That Are Expected to Be Converted into Cash Within