An Item Which May Be Converted to Cash Within One

question 47

Multiple Choice

An item which may be converted to cash within one year or one operating cycle of the firm is classified as a

• A) current liability.
• B) long-term asset.
• C) current asset.
• D) long-term liability.

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Definitions:

Indirect Approach

A communication strategy that presents supporting details first, leading up to the main point or request, often used to soften the impact of negative news.

Main Idea

The central or most important thought, concept, or argument that is being conveyed in a text or discourse.

Request For Action

A directive or plea issued to prompt someone to take a specific action or make a decision.

Expression Of Appreciation

A statement or gesture showing gratitude or acknowledgment of others' efforts or achievements.