Current Assets Are

question 51

Multiple Choice

Current assets are:

• A)all assets except inventory.
• B)all assets that provide benefits extending beyond one year.
• C)cash, accounts receivable, and buildings.
• D)all assets that are expected to be converted to cash in the near future.

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Definitions:

Comprehensive Income

A measure of all changes in equity of a company during a period from transactions and other events from non-owner sources. It includes all revenues and gains, expenses and losses.

Finance Costs

Expenses associated with borrowing money, including interest payments, bank charges, and other related costs.

Line Item

A specific and individual entry recorded in a financial statement or budget that represents income, expense, asset, or liability.