A Current Asset Is

question 22

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) expected to be converted to cash or used in the business within a relatively short period of time.

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Definitions:

Blood Pressure

Pressure exerted by blood against a vessel wall.

Active Transport

The movement of molecules across a cell membrane from a region of lower concentration to higher concentration, requiring energy.

Uric Acid

A waste product formed from the breakdown of purines, excreted in urine.

Ammonia

A compound of nitrogen and hydrogen with the formula NH3, it is a colorless gas with a characteristic pungent smell and is used in many industrial processes.