Questions
Single choice
Which of the following are current assets? (Check all that apply.)
Options
A.2-year notes payable
B.Accounts payable
C.Notes receivable due within 90 days
D.Trade receivable
E.Accounts receivable
F.2-year notes receivable
View Explanation
Verified Answer
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Step-by-Step Analysis
To determine which items are current assets, we must distinguish assets from liabilities and also identify which assets are expected to be converted into cash or used within one year.
Option: 2-year notes payable
This is a liability (a payable) rather than an asset, and its long-term nature me......Login to view full explanationLog in for full answers
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