Can you identify 6 items that under different circumstances could be classified as either current or non current?

Answer 1

Certainly! Items such as cash, inventory, and accounts receivable are typically classified as current assets, but under certain circumstances, such as being held for long-term investment, they can be considered non-current. Conversely, property, plant, and equipment are generally non-current assets, but if they are held for sale in the short term, they can be classified as current. Other examples include short-term investments (current) that may be reclassified as non-current if held longer, and prepaid expenses (current) that may not be utilized within a year, thus becoming non-current.