Which of the Following Would Be Classified as Current Asset

question 194

Multiple Choice

Which of the following would be classified as current asset at December 31, 2022?

• A)Cash balances of all checking accounts, regardless of positive or negative balances.
• B)Cash equivalents.
• C)Cash restricted for plant expansion in 2025.
• D)Cash restricted for payment of long-term contingent liabilities.

---

Definitions:

Fine Imposed

A penalty, usually in the form of a monetary payment, levied by an authority on individuals or entities as punishment for violating regulations or laws.

Cockatoos

A group of large, colorful parrots with a distinctive crest, native to Australasia.

Smuggled

Illegally transported goods or persons across borders to avoid customs duties or immigration restrictions.

Transit

The act of moving people or goods from one location to another, typically referring to public transportation systems.