Which of the Following Is Classified as a Current Asset

question 134

Multiple Choice

Which of the following is classified as a current asset?

• A)Office equipment.
• B)Patent.
• C)Unearned revenue.
• D)Office supplies.
• E)Land.

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Definitions:

Defendant Resides

The legal jurisdiction or location where the defendant (the person accused in a lawsuit) lives or is based.

Garnishment

A court order that monies owed to the judgment debtor (defendant) by third parties be paid into court and applied toward judgment debts; also known as attachment of debt.

Judgment Debtor

The person ordered by a court to pay damages or costs.

Funds

Financial resources, especially those available for a specific purpose or required to cover a specific debt or purchase.