A Current Asset Is

question 62

Multiple Choice

A current asset is

• A)the last asset purchased by a business.
• B)an asset that is not currently being used to produce a product or service.
• C)usually found as a separate classification in the statement of income.
• D)expected to be converted to cash or used in the business within a relatively short period of time.

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Definitions:

Gambler's Fallacy

The mistaken belief that if something happens more frequently than normal during some period, it will happen less frequently in the future, or vice versa.

Availability Heuristic

A cognitive shortcut that depends on the first examples that appear in someone's mind when considering a particular subject, idea, technique, or choice.

Conjunction Fallacy

The cognitive bias where people incorrectly believe specific conditions are more probable than a single general one.

Public Relations

The strategic communication process that builds mutually beneficial relationships between organizations and their publics.