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Grace, a third grader, is beginning to get many of her permanent teeth. Her mom is concerned because Grace's permanent teeth seem much too large. What can you tell Grace's mom?
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle of a business, whichever is longer.
Converted Into Cash
The process of liquidating assets or investments to generate cash flow or liquidity.
Prepaid Expenses
Expenses paid in advance for goods or services to be received in the future, considered as current assets on a balance sheet.
Current Asset
Current Assets are assets expected to be converted into cash, sold, or consumed during a company's next operating cycle or within a year, including cash, inventory, and accounts receivable.
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