Current Assets Are Assets That (1)are in the Form of Cash

question 55

True/False

Current assets are assets that (1)are in the form of cash, (2)will be realized in cash,or (3)conserve the use of cash within the operating cycle of a business or for one year,whichever is shorter.

---

Definitions:

Void Contract

A contract that lacks legal validity and enforceability from the outset, meaning it has no legal effect and cannot be enforced by either party.

Infant

A very young child, especially one newly or recently born.

Illegal

Illegal refers to actions or activities that are prohibited by law or statute.

Enforceable

Refers to a rule, obligation, or agreement that can be legally imposed or carried out.