Which of the following best describes current assets? (a) Assets which are readily convertible into cash on

Question:

Which of the following best describes ‘current assets’?
(a) Assets which are readily convertible into cash on demand
(b) Assets specifically set aside to discharge liabilities maturing within the next accounting period
(c) Assets expected to be converted to cash within the next accounting period
(d) Assets expected to be converted to cash or be used up within the next accounting period

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