Question

A current asset is __________.a. the last asset purchased by a business. b. an asset which is currently being used to produce a product or service. c. usually found as a separate classification in the income statement. d. an asset that a company expects to convert to cash or use up within one year or the ope

Answer 1

Answer:

Right answer:

d. an asset that a company expects to convert to cash or use up within one year .

Explanation:

Current assests are expected to be sold , used, exhausted through the normal process of business operations. There´s an expectation that they can be converted to cash value over the next year period. They are short term assets for a company.