Which of the Following Are Classified as Current Assets

question 76

Multiple Choice

Which of the following are classified as current assets?

• A)Office equipment.
• B)Patent.
• C)Unearned revenue.
• D)Office supplies.
• E)Land.

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Definitions:

Division

A distinct part of a larger company or organization that focuses on a specific area of business or operation.

Profit Centers

Divisions or departments within an organization that are directly responsible for generating its income.

Information

Data that has been processed or structured in a meaningful way to be useful for decision-making or analysis.

Profit Center

A division whose parent company evaluates it on the basis of the profit it earns.