Which of the following assets would be classified as a current asset? (check all that apply) : A. Accounts Receivable B. Land C. Office Supplies D. Furniture

Question

Leilani Ortega

Business

23 June, 05:56

Which of the following assets would be classified as a current asset? (check all that apply) : A. Accounts Receivable B. Land C. Office Supplies D. Furniture

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Answers (1)

Know the Answer?

Elyse Bennett · Answer 1

The correct answer are letters "A" and "C": Accounts Receivable; Office Supplies.

Explanation:

Current Assets are assets that a company could convert into cash within a year into normal course of business. Current assets include cash, accounts receivable, inventory, office supplies, marketable securities, prepaid expenses and anything else that can easily be turned to cash.