Current Assets Are Assets That the Business Plans to Sell

question 8

True/False

Current assets are assets that the business plans to sell, consume, or convert to cash within 12 months or the operating cycle, if it is longer.

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Definitions:

Bit

The smallest unit of data in computing, representing a binary value of either 0 or 1.

Byte

The basic unit of data storage in computing and digital communications that most commonly consists of eight bits.

Field

A characteristic of interest that describes an entity.

Primary Key

A field (or attribute) of a record that uniquely identifies that record so that it can be retrieved, updated, and sorted.