Current Assets Are Assets That Can Be Converted Quickly into Cash

question 193

True/False

Current assets are assets that can be converted quickly into cash or that will be used in two years or less.

---

Definitions:

Offshoring

The relocation of a company's business process, such as manufacturing or services, from one country to another, often to exploit lower labor costs.

U.S. Economy

The economic system of the United States, characterized by a mixed economy with both private enterprise and government intervention.

Open Economy

An economy that engages in international exchange of goods, services, and capital.

Foreign Trade

The exchange of goods, services, and capital between countries and territories, influencing the global economy.