Which of the Following Would Not Be Classified as a Current

question 21

Multiple Choice

Which of the following would not be classified as a Current Asset?

• A) Equipment
• B) Supplies
• C) Accounts Receivable
• D) Cash

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Definitions:

Unilateral Contract

A contract in which one party makes a promise in exchange for the other party's performance, rather than a promise in return.

Counter-Offer

A proposal made as a response to an offer, which negates the original offer and suggests new terms for an agreement.

Revocation

The official cancellation or withdrawal of an offer, license, or agreement.

Unilateral Contract

A binding agreement in which one party promises to do something in return for an act of the other party, rather than a promise.