Which of the Following Items Is NOT Normally Considered a Current

question 37

Multiple Choice

Which of the following items is NOT normally considered a current asset?

• A) Accounts receivable.
• B) Inventory.
• C) Bonds.
• D) Cash.
• E) Short-term,highly-liquid,marketable securities.

---

Definitions:

Appellate Courts

Courts responsible for hearing appeals against legal decisions made by lower courts, reviewing cases for errors in application of the law.

Trial Courts

Courts of original jurisdiction where cases are tried, evidence is presented, and judgments are made, subject to appeal.

Legislative Process

The legislative process encompasses the steps through which proposed laws (bills) are debated, amended, and voted on in a legislative body before becoming official statutes.

Marginal Tax Rate

The rate at which the last dollar of a taxpayer's income is taxed, indicating the percentage of tax applied to their highest dollar of income.