which of the following is classified as a current asset
by Kelley Powlowski
Published 2 years ago
Updated 2 years ago
Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.
What are 10 examples of current assets?
Current Assets ListCash.Cash Equivalents.Stock or Inventory.Accounts Receivable.Marketable Securities.Prepaid Expenses.Other Liquid Assets.
What are 3 types of current assets?
Types of Current AssetBank cash and cash equivalents. Bank balance is the most current assets that a company owns. ... Debtor and Accounts Receivable. ... Inventory or stock In Trade. ... Deposits. ... Readily Marketable Securities. ... Prepaid expenses. ... Accrued income. ... Promissory notes.More items...•
What are current assets 4 examples?
Examples of current assets include:Cash and cash equivalents.Accounts receivable.Prepaid expenses.Inventory.Marketable securities.
Which of the following is a current asset quizlet?
Current assets include: cash, marketable securities, receivables, inventory, and prepaid items.
What are the 5 current assets?
Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.
What are 3 examples of a current liability?
Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable as well as income taxes owed.
Which is not a current asset?
Land is regarded as a fixed asset or non-current asset in accounting and not a current asset.
Which of the following is not classified as a current asset?
Answer and Explanation: D) Property is not classified as a current asset. To be a current asset, the asset needs to be likely used up in the next period and property is usually held for multiple accounting periods.
Which of the following is not considered a current asset?
Land is not a current asset, because land will NOT turn to cash within one year of the balance sheet date, or within the operating cycle if the operating cycle is longer than one year.
What makes an asset a current asset quizlet?
at What makes an asset a current asset? They are assets that are presumed to be converted to cash within one accounting period which could be a year.
Is inventory a current asset quizlet?
Inventory is reported as a current asset on the balance sheet of a merchandiser.
What are other current assets?
Other current assets (OCA) is a category of things of value that a company owns, benefits from, or uses to generate income that can be converted into cash within one business cycle.
What are the type of assets?
What are the Main Types of Assets?Cash and cash equivalents.Accounts Receivable.Inventory.Investments.PPE (Property, Plant, and Equipment)Vehicles.Furniture.Patents (intangible asset)
Which is not a current asset?
Land is regarded as a fixed asset or non-current asset in accounting and not a current asset.
What are the types of current liabilities?
Five Types of Current LiabilitiesAccounts Payable. Accounts payable are the opposite of accounts receivable, which is the money owed to a company. ... Accrued Payroll. ... Short-Term and Current Long-Term Debt. ... Other Current Liabilities. ... Consumer Deposits.
18 hours ago
· A current asset is an item on an entity's balance sheet that is either cash, a cash equivalent, or which can be converted into cash within one year. If an organization has an operating cycle lasting more than one year, an asset is still classified as current as long as it is converted into cash within the operating cycle.
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· Deferred taxes are a non-current asset for accounting purposes.. A current asset is any asset that will provide an economic benefit for or within one year.
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For an asset to be categorized as Intangible, the following criteria must be satisfied: It must be Identifiable. The organization must have the means to obtain economic benefits from such an asset. An intangible asset can be generated internally by the business or acquired through separate purchases (through mergers vs. Acquisitions Mergers
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· The most common current liabilities found on the balance sheet include accounts payable, short-term debt such as bank loans or commercial paper issued to fund operations, dividends payable. notes ...
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The following table shows the Classified Balance Sheet example format for a garment firm. ... Example Format of Classified Balance Sheet Asset. The format of the classified balance sheet ‘s asset side can be divided into three main categories. #1 – Current Assets. source: Starbucks SEC Filings. These are the assets that are supposed to be consumed or sold to utilized cash …
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· Is service revenue a current asset? Service revenue is a type of income that an organization earns from rendering a service. The accounting equation states that assets equal liabilities plus equity, so if the company's net asset figure is positive, it means they have more current assets than current liabilities. If the company has fewer current ...
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