It is false that current assets include all the assets that are cash, inventory, equipment, supplies and accounts receivable.
Given that the assets are cash,inventory,equipment,supplies and accounts receivables.
We are required to tell whether all of the given assets are current assets or not.
Current assets are basically all the assets of a company that are expected to be sold or used as a result of standard business operations over the next year.
Cash is a current asset because it is the asset which has highest liquidity among all the assets.
Inventory is also a current asset because it is usually converted within one year.
Equipment is not a current asset because it serves the business for more than one year.
Accounts receivables is not a current asset as the amount usually comes in one year.
Hence it is false that current assets include all the assets that are cash, inventory, equipment, supplies and accounts receivable.
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