The current assets from the options provided are:

1. Accounts Receivable: This is considered a current asset because it represents money that is owed to the company that is expected to be paid within one year.

2. Prepaid Expenses: These are also considered current assets because they are costs that have already been paid for, but the services or goods have not yet been received or used. They are expected to be used up within one year.

Accumulated Depreciation and Vehicles are not considered current assets. Accumulated Depreciation is a contra asset account (an asset account with a credit balance) that reduces the original cost of an asset to its current residual or salvage value. Vehicles are typically considered a long-term asset because they are used in a business for more than one year.

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The current assets from the options provided are:

1. Accounts Receivable: This is considered a current asset because it represents money that is owed to the company that is expected to be paid within one year.

2. Prepaid Expenses: These are also considered current assets because they are costs that have already been paid for, but the services or goods have not yet been received or used. They are expected to be used up within one year.

Accumulated Depreciation and Vehicles are not considered current assets. Accumulated Depreciation is a contra asset account (an asset account with a credit balance) that reduces the original cost of an asset to its current residual or salvage value. Vehicles are typically considered a long-term asset because they are used in a business for more than one year.

Knowee AI · Accepted Answer

The current assets from the options provided are:

1. Accounts Receivable: This is considered a current asset because it represents money that is owed to the company that is expected to be paid within one year.

2. Prepaid Expenses: These are also considered current assets because they are costs that have already been paid for, but the services or goods have not yet been received or used. They are expected to be used up within one year.

Accumulated Depreciation and Vehicles are not considered current assets. Accumulated Depreciation is a contra asset account (an asset account with a credit balance) that reduces the original cost of an asset to its current residual or salvage value. Vehicles are typically considered a long-term asset because they are used in a business for more than one year.

Question 7Which of these would be considered a current asset? (select all that apply) 1 pointAccounts receivablePrepaid expensesAccumulated depreciationVehicle

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