Question

Which of the following assets would be classified as a current​ asset? ​(check all that ​apply)​: A. Accounts Receivable B. Land C. Office Supplies D. Furniture

Answer 1

Answer:

The correct answer are letters "A" and "C": Accounts Receivable; Office Supplies.

Explanation:

Current Assets are assets that a company could convert into cash within a year into normal course of business. Current assets include cash, accounts receivable, inventory, office supplies, marketable securities, prepaid expenses and anything else that can easily be turned to cash.