I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
How to determine the total dollar amount of assets and how they can be classified as current assests.
Current asset
Current asset.
Current Asset
Account receivables are always assets. It's money that is owed to you by another. The length of time in which that money is expected to be collected determines whether it's a current asset or long term asset.
since noncurrent assets are fixed assets and current asset are business properties tend to be used within a years period example machinery a business can put their properties on sale example they can rent them out as hire purchasing from them the business gets money
How to determine the total dollar amount of assets and how they can be classified as current assests.
Current asset
Current asset.
Current Asset
Account receivables are always assets. It's money that is owed to you by another. The length of time in which that money is expected to be collected determines whether it's a current asset or long term asset.
non current asset
Current Asset
non-current assets.
non current
it is a expense
is closing inventory a current or non current asset