In the balance sheet,the current assets consist of:
A)accounts payable.
B)inventory.
C)revenue.
D)All of the above

Question

Quizplus · Accepted Answer

Current assets consist of items that are expected to be converted into cash within a year. Accounts payable and revenue are liabilities and sources of cash, respectively. Inventory, on the other hand, is an example of a current asset, as it is an item that a company expects to sell and convert into cash within a year. Thus, the correct answer is B - inventory.

In the Balance Sheet,the Current Assets Consist Of