All those assets which are converted into cash in the normal course of business within one year are known as [A] fixed assets [B] current assets [C] fictitious assets [D] wasting assets

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 1RE: On December 31, Harrison Company reports the following assets: Which of these are included in, and...
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All those assets which are converted into cash in the normal course of business within one year are known as

  • [A] fixed assets
  • [B] current assets
  • [C] fictitious assets
  • [D] wasting assets
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