Question

The term "current financial resources" refers to
A. The government’s current assets and current liabilities.
B. Financial resources used to provide electricity to local citizens.
C. Assets that are available to be used for current expenditures.
D. Those assets that can quickly be converted into cash.
E. The current value of all net assets owned by the governmental unit.

Answer 1

Answer:C. Assets that are available to be used for current expenditures

Explanation:

The running of a firm will be affected no matter how much asset it has if there are no current financial resources to meet his immediate obligations, the availability of assets convertible to immediate cash to meet current or immediate obligations is called current financial resources.