Questions
GBUS*4330*W01 25 Fall GBUS 4330 Quiz 2 - Requires Respondus LockDown Browser
Single choice
Cash itself or items that could be quickly turned into cash or will be used within 1 year are called ________.
Options
A.current assets
B.liquid cash
C.long-term assets
D.liquid assets
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Verified Answer
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Step-by-Step Analysis
We start by identifying what the question is asking: terms used for assets that are cash or can be turned into cash quickly, typically within one year.
Option 1: current assets. This is the standard accounting term for assets expected to be converted into cash or used up within o......Login to view full explanationLog in for full answers
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Referring to the Balance Sheet printed in Step 22 of the Practical Exam, what is the amount shown for Total current assets?
Calculate the current assets. Cash 789 Property, plant & equipment 128,859 Bank loan, 5 years 13,482 Inventory 440 Notes payable, 10 years 10,052 Accounts receivable 1,143 Accounts payable 5,766 Unearned revenue 1,929 Prepaid insurance 8,197 Salary payable 1,110 Patents 141,164
Calculate current assets. Cash 932 Property, plant & equipment 133,221 Bank loan, 5 years 16,821 Inventory 635 Notes payable, 10 years 11,405 Accounts receivable 1,767 Accounts payable 5,016 Unearned revenue 1,548 Prepaid insurance 6,341 Salary payable 1,618 Patents 188,385
Which of the following are current assets? (Check all that apply.)
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