Asked by
Alejandra Lopez
on Nov 06, 2024Verified
Cash,investments,accounts receivable,and inventory are:
A) retained earnings.
B) current liabilities.
C) long-term assets.
D) long-term liabilities.
E) current assets.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business, whichever is longer.
Accounts Receivable
Money owed a company by its clients or customers who have promised to pay for the products at a later date.
- Distinguish between current and long-term assets and liabilities.
Verified Answer
AP
Learning Objectives
- Distinguish between current and long-term assets and liabilities.