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Sagot :
A company may properly classify an asset that provides benefits for 15 months as a current asset if the asset's useful life cannot be separated into time segments.
How Do Current Assets Work?
All assets possessed by the company that can be turned into cash within a year are recorded in the Current Assets account, which is a line item on the balance sheet under the Assets heading. Current assets are items whose value is shown in the Current Assets account.
Cash, cash equivalents, receivables, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets are examples of current assets. Current Accounts are another name for current assets.
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