Which of the Following Are Current Assets

question 6

Multiple Choice

Which of the following are current assets?
I.patent
II.inventory
III.accounts payable
IV.cash

• A)I and III only
• B)II and IV only
• C)I, II, and IV only
• D)I, II and IV only
• E)II, III, and IV only

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Definitions:

Foreign Exchange Rate

The price of one currency in terms of another currency, determining how much of one currency can be exchanged for another.

Business Transactions

Financial activities or operations that involve an exchange of goods, services, or funds between two or more parties.

Equity Securities

Equity securities represent an ownership interest held in a company by individuals or firms in the form of stocks.

Classification

The process of organizing data or items into categories based on their similarities, properties, or characteristics.