A Current Asset Is

question 120

Multiple Choice

A current asset is

• A) an asset that will be used in the operating activities of a business.
• B) an asset generated by the operations of a business within the past year.
• C) an asset that is expected to be used or converted to cash within one year or the operating cycle, whichever is longer.
• D) a miscellaneous asset that is small in dollar amount.

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Definitions:

Single-parent Households

Households headed by a single individual who is responsible for raising children without the partnership of another parent in the home.

Horticultural Societies

Societies that rely on the cultivation of plants in gardens to provide food, utilizing simple tools and methods rather than large-scale agriculture.

Residence Pattern

A social system that determines where newly married couples reside, such as with the wife's or husband's family, or independently.

Political Organization

The way in which a society structures its political and authority relationships, governing the distribution of power and resources.