Current Assets Are Assets That (1)are in the Form of Cash

question 55

True/False

Current assets are assets that (1)are in the form of cash, (2)will be realized in cash,or (3)conserve the use of cash within the operating cycle of a business or for one year,whichever is shorter.

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Definitions:

Internal Customers

Employees or departments within an organization that rely on others within the same organization for products, services, or information.

Continuous Improvement

An ongoing effort to improve products, services, or processes by making small, incremental improvements over time, rather than through big, radical changes.

Current Performance

The present level of effectiveness and efficiency with which tasks and goals are being achieved by individuals or organizations.

Total Quality Management

A management approach focused on continuous improvement of processes, products, and services to achieve high quality.