A Current Asset Is

question 23

Multiple Choice

A current asset is:

• A) an item currently owned by the firm.
• B) an item that the firm expects to own within the next year.
• C) an item currently owned by the firm that will convert to cash within the next 12 months.
• D) the amount of cash on hand the firm currently shows on its balance sheet.
• E) the market value of all items currently owned by the firm.

---

Definitions:

Utilitarian Justice

A theory in ethics and economics that suggests actions should be judged as morally right if they result in the greatest good for the greatest number of people.

Distributional Justice

The philosophical and theoretical discussions and principles concerning the fair allocation of goods among members of society.

Income Redistribution

The transfer of income from certain individuals or groups to others through mechanisms such as taxation, welfare, and subsidies to achieve economic equity.

Utilitarian Justice

A principle in ethics and political philosophy that actions are right if they are useful or for the benefit of a majority, focusing on outcomes that maximize happiness or reduce suffering.