Question

Current assets are assets that can be converted quickly into cash or that will be used in two years or less.

A) True
B) False

Answer 1

Current assets are assets that can be converted quickly into cash or used within two years. The statement is true.

Step-by-step explanation:

Current assets are assets that can be converted quickly into cash or that will be used in two years or less. They are considered the most liquid assets of a company. Examples of current assets include cash, accounts receivable, and inventory.

In the given question, the statement True is correct. Current assets can be easily converted into cash or will be used within a two-year period.