Current assets include:
A)Assets that must be paid for within 12 months.
B)Assets that will be used up or converted to cash within 12 months.
C)Assets that will be used for many years.

Question

Quizplus · Accepted Answer

Current assets are assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business, whichever is longer. This includes cash, accounts receivable, inventory, and other assets that are likely to be used up or converted into cash within 12 months.

Current Assets Include