A current asset may be cash or must be capable of being converted into cash within a relatively short period of time, usually less than five years.

Name: A current asset may be cash or must be capable of being converted into cash within a relatively short period of time, usually less than five years.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A current asset is typically expected to be converted into cash or used up within one year or the operating cycle of the business, whichever is longer, not five years.

A Current Asset May Be Cash or Must Be Capable