A Current Asset Is

question 114

Multiple Choice

A current asset is

• A) the last asset purchased by a business.
• B) an asset which is currently being used to produce a product or service.
• C) usually found as a separate classification in the income statement.
• D) an asset that a company expects to convert to cash or use up within one year.

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Definitions:

Thyroid Gland

An endocrine gland in the neck that produces hormones regulating growth, metabolism, and energy levels.

Sensory Information

Data obtained from the environment through the senses, such as sight, hearing, smell, taste, and touch.

Electrical Signal

A form of signal used in electrical systems that represents data through variations in voltage, current, or frequency.

Neuron

A nerve cell that is the basic building block of the nervous system, responsible for transmitting information.