Current v Non-Current Assets Flashcards
1
Q
How should we classify property, plant and equipment - as a current or non-current asset?
A
Non-current - it matches none of the definitions
2
Q
How should we classify inventory - as a current or non-current asset?
A
Current - it probably matches the first definition, and definitely matches the second and fourth
3
Q
How should we classify cash - as a current or non-current asset?
A
Current - it matches the third definition
4
Q
How should we classify current assets - as a current or non-current asset?
A
Current - it probably matches the first definition, and usually does match the second
5
Q
A
