Assets That Are Expected to Be Converted to Cash,sold,or Used

question 122

Multiple Choice

Assets that are expected to be converted to cash,sold,or used up during the next 12 months,or within the business's normal operating cycle if the cycle is longer than a year,are called ________ assets.

• A) intangible
• B) plant
• C) long-term
• D) current

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Definitions:

Periodic Drought

A recurring phenomenon where an area experiences significantly lower than normal precipitation over an extended period, leading to water scarcity.

High Winds

Strong and often destructive air movement in the atmosphere, capable of causing damage to structures and impacting weather patterns.

Acid Rain

Low-pH rain that forms when sulfur dioxide and nitrogen oxides mix with water vapor in the atmosphere.

Sulfur Dioxides

Sulfur dioxide (SO2) is a toxic gas with a pungent, irritating smell, released by volcanoes and industries, and contributing to acid rain.