Current Assets Include All of the Following: Cash, Inventory, Equipment

question 80

True/False

Current assets include all of the following: cash, inventory, equipment, supplies, and accounts receivable.

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Definitions:

Sole Proprietorships

A form of business entity owned and run by one individual where there is no distinction between the owner and the business.

Million

A numerical term representing one thousand thousands, or 1,000,000, used often to describe quantities or amounts in demographic, financial, and statistical data.

United States

A country located in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Sole Proprietorships

A business structure where a single individual owns the company and is responsible for its debts and legal liabilities.