Current Assets

Table of Contents

A balance sheet account that represents the value of all assets that are reasonably expected to be converted into cash within one year in the normal course of business.

From an accounting perspective, assets are divided into the following categories:
  • current assets - cash, accounts receivable, inventory, marketable securities, prepaid expenses and other liquid assets that can be readily converted to cash
  • long-term assets - real estate, plant, equipment, etc.
  • prepaid and deferred assets - expenditures for future costs such as insurance, rent, interest, etc.
  • intangible assets - trademarks, patents, copyrights, goodwill, etc.

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