Which of the Following Is a Current Asset That Is

question 48

Multiple Choice

Which of the following is a current asset that is expected to be converted to cash, sold, or consumed during the next year (or the normal operating cycle, if longer) ?

• A)Equipment
• B)Accounts receivable
• C)Building
• D)Land

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Definitions:

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner that is shared by (common to) nearly all people.

Thomas Paine

An influential political writer and revolutionary of the 18th century, known for works like "Common Sense" and "The Rights of Man."

Independence

The condition of a nation, country, or state which exercises self-government, and sovereignty, over the territory and its population.

Continental Association

Was a system created by the First Continental Congress in 1774 for implementing a trade boycott with Great Britain, aiming to pressure Britain to redress colonial grievances.