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Q: Is Construction in Progress classified as current asset?
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Related questions

Is it truth Merchandise inventory is classified as a current asset in a classified balance sheet?

Yes merchandise inventor is usable within one fiscal year that's why it is current asset and shown as a current asset in balance sheet.


Why is inventory classified as a current asset?

How to determine the total dollar amount of assets and how they can be classified as current assests.


Merchandise inventory is classified on the balance sheet as a?

Current Asset


How is merchandise inventory classified on the balance sheet?

As a current asset


When is an asset classified as a current asset?

An asset is something that is considered to be a future economic benefit of the business a current asset is the same but that future economic benefit is expected to occur within 12 months.


Is fixtures is current or non-current asset?

Fixtures is an item of property plant and equipment and is considered a non-current asset. In order for something to be classified as a current asset, the asset is to be realised within the normal course of business for the company or within 12 months.


Inventory on a classified balance sheet?

Inventory is par to current asset at asset side in classified balance sheet as inventory is used within one fiscal year.


Which of the following should not be classified as a current asset?

land , building , furniture , vehicles &others


Are Notes receivable are classified as current liabilities?

Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)


Is gold is fixed asset or current asset?

Current asset


Is cafe a current asset or fixed asset?

Current asset.


Is prepaid rent a long term asset?

A Long-Term Asset is one in which the benefits of that asset extend beyond the course of a year. The benefits of prepaid rent are typically more immediate, and therefore Prepaid Rent is classified as a Current Asset.