Multiple Choice QuestionAssets that can or will be converted into cash within one year are termed ______.Multiple choice question.fixed assetscurrent assetsgoodwillintangible assets
Question
Multiple Choice QuestionAssets that can or will be converted into cash within one year are termed ______.Multiple choice question.fixed assetscurrent assetsgoodwillintangible assets
Solution
The correct answer is "current assets".
Current assets are all assets of a business that are expected to be sold or used as a result of standard business operations over the next year. They are commonly used to measure the short-term liquidity of a company and include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.
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