Which of the Following Should NOT Be Considered Current Assets

question 74

Multiple Choice

Which of the following should NOT be considered current assets in the statement of financial position?

• A) instalment notes receivable due over eighteen months, in accordance with normal trade practice
• B) prepaid taxes, which cover assessments for the current year
• C) equity or debt securities purchased with cash available for current operations
• D) franchises and copyrights

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Definitions:

Safety

The state of being safeguarded against or not prone to causing harm, peril, or damage.

Esteem

A regard for oneself with respect or admiration, often seen as a component of self-worth or self-respect.

Belongingness And Love

A fundamental human need to be an accepted member of a group and to form meaningful attachments with others.

Self-Actualization

The achievement or actualization of one's abilities and potentials, seen as a desire or necessity inherent in all individuals.