Current assets include
A)inventory and accounts receivable.
B)accounts payable and cash.
C)cash and intangible assets.
D)inventory and accounts payable.
E)buildings and equipment.

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash within a year. Inventory and accounts receivable are typical components of current assets for most businesses. Accounts payable are liabilities, not assets. Cash and intangible assets may also be components of current assets, but buildings and equipment are not considered as they are long-term assets.

Current Assets Include