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.

---

Definitions:

Chromosome

A structure of nucleic acids and protein found in the cell nucleus, carrying genetic information in the form of genes.

CAG Repeats

A series of trinucleotide repeats in the DNA, where the cytosine (C), adenine (A), and guanine (G) nucleotides are repeated multiple times; associated with various genetic disorders when present in high numbers.

HTT Gene

A gene on chromosome 4 that codes for the huntingtin protein, mutations of which are associated with Huntington's disease.

Huntington Disease

A hereditary neurodegenerative disorder characterized by motor dysfunction, cognitive decline, and psychiatric issues, often leading to a significant reduction in quality of life.